Competition from money transfer between mobile firms and banks is getting stiffer with the banks experiencing the most of pressure. An analysis of the banking sector indicate that this has led to low liquidity in the sector. The competition is also expected to lower revenues from non interest income and overall banking volumes. Registered mobile money transfers in Kenya like Zap and Mpesa have stolen more customers from the banks. This is said to have been caused by high number of mobile subscribers that do not own bank accounts. The two mobile money transfers (Zap and Mpesa) are backed by two mobile operators Zain and Safaricom. Pressure in most of the banks has led to trying to incorporate this mobile money transfers in their services like transfer between bank account and the mobile phone accounts like Pesa pap of family bank and Mkesho of equity bank. Several bills can now be paid through mobile money transfer like the electricity bills.
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