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. Mkoba Application

e payment and cash transfer system

  • Mkoba Application is an application developed for the Kenyan mobile money market.
  • Kenya has been dubbed the Silicon Savannah due to its position as a fast growing technological hub and its continual advancements in matters tech.
  • Part of these advancements include the m-pesa and airtel mobile cash transfer and payment systems which are operated by Safaricom and Airtel, respectively. 
  • Despite these advancements, there are some challenges in the money transfer and cash payment systems.
  • The app will facilitate e-commerce transactions by acting as a holding style wallet.
  • The app will also allow for the sender of money to have a 24-hour period to confirm the recipient before they send the money.
  • Users of the app can also store money in the wallet to facilitate quicker payments.
  • Withdrawal to M-pesa is quick and easy.

The Mkoba Application seeks to address two money transfer challenges in the Kenyan market.

  • Online transactions

    • In E-commerce sellers require advance payment, but buyers are not guaranteed delivery of the products or a refund of their money.
    • Buyers have to trust that the quality of goods advertised on the internet will match the goods delivered to them.
    • Where there is no advance payment, sellers have to trust that once they dispatch goods for delivery, the buyer will be found and will pay for the goods as well as the delivery service.
  • Incorrect number entry for cash transfer

    • The money sending system is such that it is possible to send money to an incorrect recipient when the incorrect details of the recipient are entered.
    • Reversal of such incorrect sending is not always possible as incorrect recipients are quick to withdraw the money. They also refuse to return money sent to them incorrectly.
    • The money sending system allows a five second window within which to confirm details and cancel incorrect transactions.
  • Mkoba is set to address these challenges and provide a means to facilitate payment for online transactions and create greater protection for transferring large amounts of money.

Mkoba application, coming soon to the Playstore!