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Kenyan banks get backing to launch M-Pesa competitor network

The Central Bank of Kenya (CBK) has given six banks the go ahead to launch a mobile money transfer platform to compete directly with M-Pesa, starting new competition in the lucrative financial services market. The Kenya Interbank Transaction Switch, which has been developed by the Kenya Bankers Association (KBA), facilitates real-time transfer of money between banks without [...]

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