"...MasterCard urges House and Senate conferees to reject the amendment tacked on by Senator Dick Durbin, which will hurt the people and businesses it is supposed to protect. Consumers, community banks and credit unions will all pay if this thinly-veiled attempt by merchants to increase their profitability at their customers’ expense becomes law. ..."
"We are disappointed that legislation intended to make our financial system safer and fairer for consumers includes an irresponsible and anti-consumer amendment offered by Senator Durbin. Adopted with no debate or review of facts, the amendment allows retailers' to shift their cost for accepting debit cards onto the backs of consumers while they continue to receive the value of electronic payments -- including faster check-outs, ticket lift and guaranteed payment. ..."
An M-KESHO account will offer short term loan facilities as well as pay interest on mobile account deposits. Credit evaluation for loans will be based on scoring using 6 months of history of the consumers M-PESA balances. There is no application for to fill - the loan request is made by the consumer using the mobile phone.
For more information, see "M-PESA meets microsavings with Equity Bank deal in Kenya" on the CGAP blog.
Bryan will be joined on the panel by senior representatives of Bling Nation, Citi, and USAA who will be discussing their latest initiatives.
Please stop by and say hi to Bryan if you'll be attending this always interesting conference. You can drop him an email at email@example.com.