This only proofs the cause of MYEC's delay but 1. we still ontrack.....2. Ed isn't lying....
My one post.
......"Mr Olaka confirmed in an interview that the switch would offer a wide range of solutions apart from removing the mobile wallet that users have to go through in sending money from bank to person in the current mobile banking arrangement.
A recipient of cash through the switch would get a code which is used to either carry out payments or withdraw the cash from the agents.
"We want to create a convenient way where one can use their mobile phones to buy a newspaper from a vendor by going straight into their bank account and paying using their mobile phones without first withdrawing to an intermediary platform. This should be regardless of where the vendor's account is," Mr Olaka said.
According to the plan, the cash-by-code service would serve even customers who have no bank accounts as long as they have mobile phones.
Both the sender and the receiver get a code. The receiver gets an SMS with a numeric code: For example, "You have received money. Kindly go to any bank agent, ATM or branch to withdraw using this 873921. Request the Sender for the additional 3-digit code."
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