Essay: Mobile Phone Payment System in Kenya
The results shown above indicate that people in Africa and especially Kenya have trust with the mobile phone payments since the number of new registrations is still growing. It is important to note that the security situations in most African cities is grim and thus people are not comfortable with carrying liquid cash. Given the security offered by having your money in a phone many people are turning to doing their business through this method. The results show that there is low correlation in terms of perceived support and the actual usage of the service. This can be attributed to the fact that most of the service lines are congested. The results show that people are comfortable with convenience as well as the cost involved in using mobile phone funds transfer.
Though M-pesa is the main player in the Kenyan market it is important to acknowledge that there are other emerging players in the market. A good example is the Zap service that is offered by Zain telecoms, which has come up with lower charges for transferring money. The reason why it is difficult for the Zap service to outdo the M-pesa service despite its lower charges can be attributed to the fact that many people in Kenya are currently using Safaricom. Since it is not possible to transfer money across the two networks then it proves to be difficult for customers to change their allegiance for one has to do that with all his or her clients.