000 02283 a2200361 4500
001 1351728571
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008 250312042017GB eng
020 _a9781351728577
037 _bTaylor & Francis
_cGBP 43.99
_fBB
040 _a01
041 _aeng
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100 1 _aJoy Malala
245 1 0 _aLaw and Regulation of Mobile Payment Systems
_bIssues arising ‘post’ financial inclusion in Kenya
250 _a1
260 _aOxford
_bRoutledge
_c20171128
300 _a278 p
520 _bOver the last ten years mobile payment systems have revolutionised banking in some countries in Africa. In Kenya the introduction of M-Pesa, a new financial services model, has transformed the banking and financial services industry. Giving the unbanked majority access to the financial services market it has attracted over 18 million subscribers which is remarkable given that fewer than 4 million people in Kenya have bank accounts. This book addresses the legal and regulatory issues arising out of the introduction of M-Pesa in Kenya and its drive towards financial inclusion. It considers the interaction between regulation and technological innovation with a particular focus on the regulatory tools, institutional arrangements and government decisional processes through the examination as a whole of its regulatory capacity. This is done with a view to understanding the regulatory capacity of Kenya in addressing the vulnerabilities presented by technological innovation in the financial industry for consumers after financial inclusion. It also examines the way that mobile payments have been regulated by criticising the piecemeal approach that the Central Bank of Kenya has taken in addressing the legal and regulatory issues presented by mobile payments. The book argues there are significant gaps in the regulatory regime of mobile banking in Kenya.
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