By CONSTANT MUNDAMore by this AuthorThe introduction of cross-network money transfers via mobile phones in April has failed to cut M-Pesa’s dominance with Airtel shedding market share over the period, industry data show. Its money transfer service handled Sh1.15 billion in three months to September, a drop from the Sh1.88 billion in the quarter to March—just before the introduction of cross-network service. The seamless transfer of cash also cut money transfer fees by up to 75 per cent between Safaricom and Airtel. Safaricom cut fees for sending money to a registered Airtel Money subscriber by a similar amount as a registered M-Pesa user. Airtel also lowered its cross-network fees with the reduced charges being part of the approval by the Central Bank of Kenya (CBK).

Source: Daily Nation December 20, 2018 10:07 UTC