Copyright by https://www.kenyans.co.ke The rising popularity of mobile loan apps in Kenya is attributed to their accessibility, flexibility, and efficiency in granting loans. Unlike banks which tend to be more rigid in their loaning programs, mobile loan apps in Kenya are accessible to all android phone users including the marginalized, remotely located and unbanked populations. Some of the popular mobile loan platforms in Kenya today include Branch, Tala, Utunzi, Stawika, Haraka, Saida, Okolea and M-Shwari which are accessible to Android mobile phone users save for M-Shwari which is based on USSD technology. As you contemplate taking up that mobile loan, we
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M-Shwari is a paperless banking product made for M-Pesa customers. It allows operation of a bank account through a phone. The product is gaining popularity because of its simplicity. It’s hassle-free, no application forms to fill and no bank branches to visit and so on. A click on your phone gives an emergency loan! Sounds great, right? But, have you ever thought of consequences that accrue to M-Shwari loan defaulters?
The value of deals settled through mobile phones in first half 2019 rebound from last year’s slowdown to grow by Sh215.29 billion, pointing to cooling off of political temperatures and rapidly changing innovations and disruptions in financial services. Mobile payments in the half year hit nearly Sh2.14 trillion, a growth of 11.21 percent compared with last year’s 6 percent rise to Sh1.92 trillion. Growth in value of cash deals transacted through mobile phones in the first half of 2018 was slowest in recent years, an analysis of the Central Bank of Kenya (CBK) statistics indicate, and coincided with political calls
Visa set to take aim at M-Sacco in apps race The dominance of M-Sacco — Kenya’s mobile banking app for savings and co-operative societies — will come under pressure after global tech payments platform Visa announced plans to launch a similar payments product. The new digital product, now at the concept stage, is the brainchild of Visa and the sacco umbrella federation, Kenya Union of Savings and Credit Co-operatives (Kuscco). Speaking on the sidelines of the 2019 World Credit Union (Woccu) Conference, Visa head of community accounts Douglas Leighton confirmed the digital app development at its Dubai-based Innovation Center.