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And you thought Mpesa was a revolution?,this>>>>>>
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harrydre
#11 Posted : Tuesday, January 08, 2013 1:20:48 AM
Rank: Elder

Joined: 7/10/2008
Posts: 9,131
Location: Kanjo
so if a parent want's the kids to go buy some groceries? impossible?

If you are unwell and urgently need some meds?

If your finger get hurt/cut and the reader can't read accurately?
i.am.back!!!!
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masukuma
#12 Posted : Tuesday, January 08, 2013 7:14:18 AM
Rank: Elder

Joined: 10/4/2006
Posts: 13,823
Location: Nairobi
Bill Gates has some nice things to say about M-PESA....
All Mushrooms are edible! Some Mushroom are only edible ONCE!
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deadpoet
#13 Posted : Tuesday, January 08, 2013 7:31:30 AM
Rank: Member

Joined: 9/27/2006
Posts: 506
Rwanda should implement some version of Square - instead of credit cards maybe debit or prepaid cards. That's something that can even work here!
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NoobGamer
#14 Posted : Tuesday, January 08, 2013 8:38:00 PM
Rank: Hello

Joined: 1/8/2013
Posts: 1
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jaco78
#15 Posted : Tuesday, January 08, 2013 10:33:46 PM
Rank: Hello

Joined: 3/6/2012
Posts: 8
I have read the Mshwari booklet available at Safaricom shops and believe me there is no risk of defaults in this because for every sum you "borrow" you must have the same amount frozen in your mshwari account plus the 7.5% facilitation fee. this means that if you borrow say Kshs. 1,000.00, you must have Kshs. 1,075.00 frozen in your Mshwari account which you cannot touch. where is the risk in that? Mshwari is more a savings than a loan product.
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sumuni
#16 Posted : Tuesday, January 08, 2013 10:52:21 PM
Rank: Member

Joined: 6/24/2007
Posts: 111
Location: Afrique
jaco78 wrote:
I have read the Mshwari booklet available at Safaricom shops and believe me there is no risk of defaults in this because for every sum you "borrow" you must have the same amount frozen in your mshwari account plus the 7.5% facilitation fee. this means that if you borrow say Kshs. 1,000.00, you must have Kshs. 1,075.00 frozen in your Mshwari account which you cannot touch. where is the risk in that? Mshwari is more a savings than a loan product.

And this is exactly what i don't understand about mshwari. Why should i borrow money I already have? and to add insult to injury, at such exorbitant rates? If one was to borrow like 2x or 3x the amount in your account, like they do in SACCOs, that would be understandable. But this?
It is a curious fact that of all the illusions that beset mankind, none is quite as curious as that tendency to suppose that we are mentally and morally superior to those who differ from us in opinion.
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ChessMaster
#17 Posted : Wednesday, January 09, 2013 8:20:56 AM
Rank: Elder

Joined: 2/23/2009
Posts: 1,626
I never used to like safaricom but now I'm starting to warm up to them a bit. Like Bill Gates said safaricom is like Microsoft and also like Facebook. They both succeeded because they offered people platforms. M-Pesa is a platform for money transfer via mobile phones. To me it's one reason they are still successful. I'm not sure about M-Shwari but they are in the right direction. They have shown they can utilize the information they gather about users to make them money. Information!!!For those who have seen me talk about data scientists,that's what I mean.

Fingerprints won't easily work in Africa.We don't like touching things which are glowing red and especially touching things which other people are continually touching right in front of you.Hygiene.Things I'm keeping my eye on when it comes to Safaricom is the M-Pesa api and how it will be picked up by developers. Next is NFC technology where both orange and safaricom are already preparing for battle because that is a game changer especially to the retail sector.
Uncertainty is certain.Let go
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murchr
#18 Posted : Wednesday, January 09, 2013 8:48:55 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
sumuni wrote:
jaco78 wrote:
I have read the Mshwari booklet available at Safaricom shops and believe me there is no risk of defaults in this because for every sum you "borrow" you must have the same amount frozen in your mshwari account plus the 7.5% facilitation fee. this means that if you borrow say Kshs. 1,000.00, you must have Kshs. 1,075.00 frozen in your Mshwari account which you cannot touch. where is the risk in that? Mshwari is more a savings than a loan product.

And this is exactly what i don't understand about mshwari. Why should i borrow money I already have? and to add insult to injury, at such exorbitant rates? If one was to borrow like 2x or 3x the amount in your account, like they do in SACCOs, that would be understandable. But this?



M-shwari is not 4 u simple
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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chris79
#19 Posted : Wednesday, January 09, 2013 9:34:17 AM
Rank: Member

Joined: 7/31/2007
Posts: 341
jaco78 wrote:
I have read the Mshwari booklet available at Safaricom shops and believe me there is no risk of defaults in this because for every sum you "borrow" you must have the same amount frozen in your mshwari account plus the 7.5% facilitation fee. this means that if you borrow say Kshs. 1,000.00, you must have Kshs. 1,075.00 frozen in your Mshwari account which you cannot touch. where is the risk in that? Mshwari is more a savings than a loan product.

Not true. What you need to do is simply transfer any funds you have in your M-Shwari account to M-Pesa before you request for the loan. They cannot touch the money in your MPESA account to repay your loan...
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nakujua
#20 Posted : Wednesday, January 09, 2013 10:23:51 AM
Rank: Elder

Joined: 12/17/2009
Posts: 3,583
Location: Kenya
ChessMaster wrote:
I never used to like safaricom but now I'm starting to warm up to them a bit. Like Bill Gates said safaricom is like Microsoft and also like Facebook. They both succeeded because they offered people platforms. M-Pesa is a platform for money transfer via mobile phones. To me it's one reason they are still successful. I'm not sure about M-Shwari but they are in the right direction. They have shown they can utilize the information they gather about users to make them money. Information!!!For those who have seen me talk about data scientists,that's what I mean.

Fingerprints won't easily work in Africa.We don't like touching things which are glowing red and especially touching things which other people are continually touching right in front of you.Hygiene.Things I'm keeping my eye on when it comes to Safaricom is the M-Pesa api and how it will be picked up by developers. Next is NFC technology where both orange and safaricom are already preparing for battle because that is a game changer especially to the retail sector.


I thought the reason mpesa is successful is because of its agents distribution - system or platform wise, I find no big difference between what safaricom offers and what orange or airtel have.

on the mpesa api, I think the reason safcom have delayed or failed to release one is because they don't have an idea how it will or is supposed to work - mpesa is a sim card/sms based system and the only place the api can be pluged in is at the sim card level and I dont think they will want to install 3rd party apps on their sim cards. The best they can do is have a message format standard that defines how the notification sms are formated from that developers can work with that.
but I doubt they will be doing that, they already have the paybill thing which they are selling to all an sundry.

fingerprints are already being used by a number of guys, including the medical insurance verification thing and a good number of ngo's that are using the same to id dependants - if the biometric voter thing is a success this year then the uptake might increase
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