16 March, 2009
M-Pesa Account Payments & Statements
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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