LETTERS: M-Pesa model can succeed anywhere

I am sorry to disagree-Apple Pay is starting to bite into the bank share of retail banking in the US and Canada. It is quite similar to M-Pesa. Having experienced both debit cards, credit cards and M-Pesa, I prefer banking with a smartphone.

Editor,

RE: “Why M-Pesa would not succeed in US or Britain” (The New Times, September 20).

 

I am sorry to disagree—Apple Pay is starting to bite into the bank share of retail banking in the US and Canada. It is quite similar to M-Pesa. Having experienced both debit cards, credit cards and M-Pesa, I prefer banking with a smartphone.

 

What happened in South Africa is more the bank sector being more organised and mounting a good defence of their turf than M-Pesa not being suitable.

 

Rashid Swaleh

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