Survey: Kenyans want concurrent use of cash, cards
01 July 2014, 11:24
Nairobi - As the cashless system of payment of fares in matatus kicks off, the Consumer Federation of Kenya (COFEK) has released the results of a survey indicating that Kenyans preferred concurrent running of cash and cashless transactions.
In an opinion poll carried on COFEK website between May 26 to June 26, 37 percent of the pollsters want both cashless and cashless transactions to go on.
A total of 27 percent of the polling public want cash while 25 percent are still divided, read a COFEK statement.
The system, while timely, has been hit with low consumer education, operators asking for "more time" while consumers fear higher costs, losses on the card balances and bidding farewell to their privacy.
COFEK stated that the system also assumed that all commuters were literate and they hold either phones and or debit cards.
The consumer body said that the predictable high number of loss of cards would be a major revenue stream for banks and other entrepreneurs at the expense of consumers.
The security and regulation of the master servers linking the banks and the end-users PSV machines remains not guaranteed.
This can only mean that with a single hacking, billions of high security data could be in the hands of criminals.
According to COFEK, government agencies had left the cashless fare system (the name changing many times and CBK regulation becoming an afterthought) to profiteer at the expense of consumers.
“The mandatory nature of the system makes it discriminatory and unconstitutional - Art. 27(4) and Art. 46(1)(b),” stated COFEK.
The agency promised that it will be watching the rollout with interest and would move to court to stop the process in the event problems persist.
- CAJ News
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