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    Government Finally Removes Matatu’s from Railways Bus Station

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    Sportpesa in Fresh Legal Tussle Over The Brand

    Sportpesa in Fresh Legal Tussle Over The Brand

    The 9th Africities summit Begins in Kisumu

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    Kenya to import maize from outside EAC to mitigate shortage

    Kenya to import maize from outside EAC to mitigate shortage

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    Twiga Invests Ksh 1 billion To Scale Access To Affordable, High Quality Produce In Kenya

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  • Real Estate
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    Superior Homes Launches Reward Program for Investors

    Report: High Demand for Luxury Houses in Nairobi Fueling  Increase in Prices

    Report: High Demand for Luxury Houses in Nairobi Fueling Increase in Prices

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    Regional property summit kicks off in Nairobi

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    Five Reasons Why Real Estate Increases in Value

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    Optiven Foundation Launches TVET Sponsorship Program

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    How Optiven is making it Easy for Kenyans to Own Transformed Land for their Dream Homes

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    International Firm to help Kenyans Buy Property in The UK

    Centum’s Tribus To Invest Sh137 Million On 10 Youth Employment Centres

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    How to Build a 3 Bedroom House With Less Than Ksh1 Million

    How to Build a 3 Bedroom House With Less Than Ksh1 Million

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    How to Secretly Leave a Whatsapp Group without Notification

    How to Secretly Leave a Whatsapp Group without Notification

    Tala Names Munyi Nthigah The New General Manager For Kenya

    Tala Names Munyi Nthigah The New General Manager For Kenya

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  • World Business
    Meet The Richest Man Who Can Fund Kenya’s Budget Alone for 10years

    Meet The Richest Man Who Can Fund Kenya’s Budget Alone for 10years

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    Copyright Bill: Why You May not Be Able to Watch EPL, UEFA in Kenya

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    Troubled Kenya Power appoints new interim MD to replace Rosemary Oduor

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Kenyan Business Feed
  • Home
  • News
    Government Finally Removes Matatu’s from Railways Bus Station

    Government Finally Removes Matatu’s from Railways Bus Station

    Sportpesa in Fresh Legal Tussle Over The Brand

    Sportpesa in Fresh Legal Tussle Over The Brand

    The 9th Africities summit Begins in Kisumu

    The 9th Africities summit Begins in Kisumu

    Deputy President Martha Karua

    Deputy President Martha Karua

    UAE President Sheikh Khalifa Bin Zayed Dies at 73

    UAE President Sheikh Khalifa Bin Zayed Dies at 73

    11,OOO Vehicles Already Registered to Use Express Way

    11,OOO Vehicles Already Registered to Use Express Way

    New business model program to firm up corporate-startup ties launched

    New business model program to firm up corporate-startup ties launched

    Crypto firms approach KenGen seeking mining access

    Crypto firms approach KenGen seeking mining access

    Children Without IDs to Be Registered for M-Pesa

    Children Without IDs to Be Registered for M-Pesa

  • Markets
    South Africa’s wine Industry where Challenges are Solved with Technology

    South Africa’s wine Industry where Challenges are Solved with Technology

    Kenya to import maize from outside EAC to mitigate shortage

    Kenya to import maize from outside EAC to mitigate shortage

    Twiga Invests Ksh 1 billion To Scale Access To Affordable, High Quality Produce In Kenya

    Twiga Invests Ksh 1 billion To Scale Access To Affordable, High Quality Produce In Kenya

    CMA Issues Licenses Three Fund Managers

    CMA Issues Licenses Three Fund Managers

    CCI Global to occupy largest contact centre in Kenya at Tatu City

    CCI Global to occupy largest contact centre in Kenya at Tatu City

    CMA licenses two Online Forex Trading Intermediaries

    CMA licenses two Online Forex Trading Intermediaries

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    CMA licenses Embu Coffee Farmers Marketing Agency

    BluePeak announces Ksh1.5 B Investment in Africure

    BluePeak announces Ksh1.5 B Investment in Africure

    Falling share prices raise banks dividend returns

    Falling share prices raise banks dividend returns

  • Real Estate
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    Superior Homes Launches Reward Program for Investors

    Report: High Demand for Luxury Houses in Nairobi Fueling  Increase in Prices

    Report: High Demand for Luxury Houses in Nairobi Fueling Increase in Prices

    Regional property summit kicks off in Nairobi

    Regional property summit kicks off in Nairobi

    Five Reasons Why Real Estate Increases in Value

    Five Reasons Why Real Estate Increases in Value

    Optiven Foundation Launches TVET Sponsorship Program

    Optiven Foundation Launches TVET Sponsorship Program

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    How Optiven is making it Easy for Kenyans to Own Transformed Land for their Dream Homes

    International Firm to help Kenyans Buy Property in The UK

    International Firm to help Kenyans Buy Property in The UK

    Centum’s Tribus To Invest Sh137 Million On 10 Youth Employment Centres

    We’re sorry: Weekly Citizen humbles before Centum CEO

    How to Build a 3 Bedroom House With Less Than Ksh1 Million

    How to Build a 3 Bedroom House With Less Than Ksh1 Million

  • Tech
    How to Secretly Leave a Whatsapp Group without Notification

    How to Secretly Leave a Whatsapp Group without Notification

    Tala Names Munyi Nthigah The New General Manager For Kenya

    Tala Names Munyi Nthigah The New General Manager For Kenya

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    Children Will Not Access Fuliza, M-Shwari In M-PESA Junior Accounts

    Safaricom Partners with vivo Smartphone to List New 4G Enabled Devices in the Kenyan Market 

    Safaricom Partners with vivo Smartphone to List New 4G Enabled Devices in the Kenyan Market 

    EA Sports End 29 Years of Video Game Partnership With FIFA

    EA Sports End 29 Years of Video Game Partnership With FIFA

    Galaxy S23: Samsung Developing 200- Megapixel Phone Camera

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    Meet The Richest Man Who Can Fund Kenya’s Budget Alone for 10years

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    EA Sports End 29 Years of Video Game Partnership With FIFA

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    Central African Republic Adopts Bitcoin as an Official Currency

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    Putin spokesman refuses to rule out use of nuclear weapons if Russia faced an ‘existential threat’

    Putin spokesman refuses to rule out use of nuclear weapons if Russia faced an ‘existential threat’

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    How new regulations are shaking up the world’s fastest sport

    President Uhuru Urges International Community to Lift Sanctions on Zimbabwe

    President Uhuru Urges International Community to Lift Sanctions on Zimbabwe

    Blow to US as Japan rejects nuclear weapons

    Copyright Bill: Why You May not Be Able to Watch EPL, UEFA in Kenya

    Copyright Bill: Why You May not Be Able to Watch EPL, UEFA in Kenya

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    South Africa’s wine Industry where Challenges are Solved with Technology

    South Africa’s wine Industry where Challenges are Solved with Technology

    Troubled Kenya Power appoints new interim MD to replace Rosemary Oduor

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    Famous Politicians Sister On Interpol Radar Over Ksh25b Money Laundering Case

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    Balala Ministry to build toilets at the peak of Mt. Kenya

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Home KBF Banking

‘WhatsApp Pay’ the new way to send money via WhatsApp

by Neymar
June 18, 2020
in Banking, Featured, KBF, Markets, News, Tech
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Homegrown money transfer service, M-Pesa, could easily survive competition from a similar service by Facebook launched in Brazil on Monday, analysts have said. 

The payment service, dubbed WhatsApp Pay, will enable one to send money on WhatsApp just like one does a photo and is integrated with all Facebook social media apps including Facebook, Facebook Shops, Messenger, Instagram, WhatsApp and WhatsApp Business.

“We do not see WhatsApp Pay as a big risk to M-Pesa but a wakeup call. M-Pesa will have to innovate away from the SIM card-based platform to take opportunities unbound by network or geography and give it more versatility,” said Churchill Ogutu, the head of research at Genghis Capital.

According to Ogutu, M-Pesa has over time formed a large agency network and formed an ecosystem of value added services such as KCB M-Pesa, M-Shwari and Fuliza entrenching itself deeply in the market.

Too powerful

Additionally, it has existing interoperability, integration and relationships with businesses such as banks, something WhatsApp Pay may take a while to achieve.

He said WhatsApp Pay could receive skepticism from regulators who deem it too powerful to regulate and from banks who will view it as competition to their own payment platform, Pesalink.

“Its key competitive edge against WhatsApp Pay and other upcoming money apps are its deep integration and seamlessness with the existing financial ecosystem.

Interoperability with the existing financial ecosystem will be critical to success of WhatsApp Pay as a challenger,” said Ogutu.

Aly Khan Satchu, an investment analyst, says WhatsApp Pay would be better off targeting a different market segment as opposed to competing directly with M-Pesa in the local market.

“M-Pesa is ubiquitous in Kenya and deeply entrenched. Therefore, Facebook would be wiser to target lower hanging fruits than going toe to toe with M-Pesa,” said Satchu.

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However, WhatsApp Pay will be a formidable competitor to M-Pesa considering that it will charge zero or near zero transaction costs, unlike M-Pesa where the charges brought in Sh28 billion accounting for 34 per cent of the platform’s revenue last year.

Consumers will use the payments service free of charge but merchants will pay a processing fee to receive payments.

Elizabeth Nkukuu, the Chief Investment Officer at Cytonn, says although M-Pesa is well entrenched in the Kenyan market WhatsApp Pay could offer a much stiffer competition than local competitors such Airtel Money, Equitel Money, Mobile Pay and T-Kash.

“I think it will be a formidable competitor especially if it comes with a lower transaction cost than M-Pesa.

Most people are on WhatsApp anyway, if it’s cheaper why not? With everything going digital, they may not need many agents now,” said Nkukuu.

According to Ogutu, WhatsApp Pay will have a global reach through its popular ecosystem of apps and can easily resonate with the social-media savvy young generation who are less concerned with brand loyalty. 

There are plans to roll out WhatsApp Pay all across the globe in the near future.

 “Payments on WhatsApp are beginning to roll out to people across Brazil beginning today and we look forward to bringing it to everyone as we go forward,” said Facebook in a blog post on Monday.

Messaging apps

According to a 2019 report by Financial Sector Deepening (FSD), 73 per cent of Kenyans use instant messaging apps with 87 per cent of users aged between 16 and 45 using WhatsApp.

With 90 per cent of daily transactions in Kenya being cash based, there still remains a huge opportunity in mobile money sector in the country.


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]

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