Ever since the innovative M-Pesa mobile phone money transfer service was introduced by Safaricom, i believe that i have sent thousands of shillings through the service that were i to get a statement tha would be sufficient proof of my liquidity and ability to service any loan. Its only recently that i realized that my bank statements are suffering since i normally cash my salary cheque and deposit the amount into my M-pesa account ! The paramount disadvantage with this is that at the moment i dont think its possible to get a written statement of how one has transacted over a period of time !Atleast Safaricom has not notified us of such a service if indeed it exists.The thing is, Banks/financial instiutions etc may not be able to capture the credit worthiness of an individual if they fail to take into consideration that many people now opt to use M-Pesa as compared to traditional banking.
I believe im not the only person with such a predicament and i believe Safaricom should now look into this.It is estimated that close to 5 million Safaricom users have subscribed to this service! Thass a whole lot of money being moved around! Issuing subscribers with statements (at a fee and on request of course!) can be an added value service and also enable them to rake in more income and enable subcribers trace, clarify and monitor their M-pesa accounts!
There are innumerable opportunities for the Safaricom M-Pesa service to morph and capitalize on! It may be possible for Banks to even charge or collect outstanding loan accounts through this service!I hope the strategic advisors of Safaricom will consider this!
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you can get an M-pesa statement from Safariom's customer care offices for teh last three months; cost is KES 500 once you provide verification details
ReplyDeleteHi Bankelele, thanks for the info its going to benefit alot of people ! I hope Saafaricom publicises this service promptly!
ReplyDeleteHi there! I've really enjoyed reading your blog. I am a business school student who is doing a research project on M-Pesa and its impact in Kenya (and the potential impact to other countries), which is how I came across you. As someone using the M-Pesa service, do you think you could share some of your thoughts on ways that Safaricom could capitalize on M-Pesa? Thanks! Elizabeth
ReplyDeleteI am waiting for the day MPESA will go online! What are these guys waiting for? Opportunity abounds...
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