Why the M-Pesa miracle has failed to work in Nigeria

[Mwanzi1]

Boy, you are dreaming.
No bank will ever take money out of your account by virtue of the word of another person.
If the transfer was complete and the recipient's account already credited the sum, only the recipient can give authority for any amount to be removed.
The sender can launch a complaint, but for him to get his money back, the recipient must agree.
If recipient refuses, it's now a legal matter and the courts will decide.
A bank will never take money from your account, period.

Paypal is a bit flexible though in terms of reversing, but still will not expose itself to a situation where it makes a loss.
For example
Person A sends B.
B withdraws the cash.
A tells Paypal to reverse.
PayPal agrees to reverse non-existent cash.

It's even possible A and B are accomplices out to defraud Paypal. In which case they'll have made $100 pure profit.

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Here the thing, if you go back you'll see I said online payment organisation like PayPal or eBay, work with local banks, you use your bank and credit card detail to purchase what ever you want and also transfer funds to friends and family. Bank cards through visa are insured and they have refund and theft policy. Your money will be request back from recipient bank if all other means are proven to be uneventful. Mind you this is NOT FOR ANY shithole countries, it is for countries which are NOT shithole US or UK which they also have goods return policy law. Company like PayPal sometime charge commission for every transaction that why they encourage you talk to the person who receive your money so they can save their commission, but there are laws which bank are required to safe guard your money under certain conditions.

Getting your money back if you paid by card or PayPal

This is How You Clear Up a Credit Card Charge for the Wrong Amount

 

[kennedy0000]

Here the thing, if you go back you'll see I said online payment organisation like PayPal or eBay, work with local banks, you use your bank and credit card detail to purchase what ever you want and also transfer funds to friends and family. Bank cards through visa are insured and they have refund and theft policy. Your money will be request back from recipient bank if all other means are proven to be uneventful. Mind you this is NOT FOR ANY shithole countries, it is for countries which are NOT shithole US or UK which they also have goods return policy law. Company like PayPal sometime charge commission for every transaction that why they encourage you talk to the person who receive your money so they can save their commission, but there are laws which bank are required to safe guard your money under certain conditions.

Getting your money back if you paid by card or PayPal

This is How You Clear Up a Credit Card Charge for the Wrong Amount

Even your link explains clearly as so.

You should try to get your money back from the seller first. If you don’t get your money back, you might be able to ask your card provider or PayPal to help. You can do this if you paid by debit or credit card or by PayPal and:

• your order hasn’t arrived
• your order is faulty or not as described
• the seller has gone out of business

A situation involving reversing a complete payment is either impossible without the recipient's consent, or will involve a long process that can even end up in court.

Actually, compared to all those big companies like PayPal and Visa, MPesa reversal is the easiest.
With Safaricom you just inform customer care and your money will be reversed automatically without them asking permission from the recipient.
If the recipient had already spent the cash, Safaricom will charge them at their next deposit.
If the recipient decides to withdraw immediately and abandon that number, your money is gone.

 

[Mwanzi1]

Even your link explains clearly as so.

You should try to get your money back from the seller first. If you don’t get your money back, you might be able to ask your card provider or PayPal to help. You can do this if you paid by debit or credit card or by PayPal and:

• your order hasn’t arrived
• your order is faulty or not as described
• the seller has gone out of business

A situation involving reversing a complete payment is either impossible without the recipient's consent, or will involve a long process that can even end up in court.

Actually, compared to all those big companies like PayPal and Visa, MPesa reversal is the easiest.
With Safaricom you just inform customer care and your money will be reversed automatically without them asking permission from the recipient.
If the recipient had already spent the cash, Safaricom will charge them at their next deposit.
If the recipient decides to withdraw immediately and abandon that number, your money is gone.

You should read I wrote first brgore rushing for the link. I said, because the business model of online payment was build on commission of any transaction, they tend to encouraged you to ask receiver to transfer the payment back. This way they also don't have to refund commission or charge you refund commission. But if that fail, then you can ask your bank to recall the payment from receivers bank even if the account on the other end has zero deposit. All bank deposit are insured to certain amount depend with agreement you had with bank at time of opening account.

 

[Kafrican]

Wrong, Ive use pay-pal I know now it works, first every user have to verify their details plus bank account, mind you in developed world, bank is still a king and work smoothly with other money business the likes of Paypall and Ebay and Amazon. Paypal is like Visa, you can recall any wrongly deposited payment. All they have to do is to instruct the receivers bank to send the money back to senders account. Unlike cronies like Safaricom when you loose your money some case you've not one to cry with but yourself. No insurance, no help.

labda ni Mpesa ya huko Tz, but in Kenya, B4 you send the money safaricom ask you to confirm the name first (the name comes from safcom themselves) .... thats the 1st safetynet. if by any chance you fail to confirm the name and press send, safaricom brings a popup menu that last 25 sec where if you enter any character, the transaction will be cancelled... if you remove the popup the money is sent, and a confirmation msg is recieved that the money has been sent to so and so....if by chance you made the wrong transaction, safaricom still gives you 12 hours where you can forwatd your transaction msg to 456 and the money will be automatically reversed.. If you try to defraud someone by completing a business transaction and paying them through mpesa then latter reverse the money, trust me, safcom will track you down with CID.... I have personally seen someone get chased and arrested by CID ...some guy wrongfully sent money abd the guy immediately withdrew the cash and refused to give back the cash...aparently its a criminal offence of the sender files a complaint and the reciever refuses to cooperate

 

[Kafrican]

Stop being asshole if 89% send money via cash transaction doesn't mean smartfone penetrative is 11%. Hide ur ukunya mentality.

Kwani unafikiri unaongea na ma dunderhead.... I did not just minus 100 and came to 11%...... Niliangalia smartphone penetration ya tz first.... Si shida yangu kama kuna coinciddnce of similar penatration rate ya smartphone na wale wanafanya wanatransact through bank

Tz smartphone penatration is also 11%, I did not make that up
Smartphone Ownership and Internet Usage Continues to Climb in Emerging Economies
South Korea stands out as the country with the highest smartphone ownership rate, with 88% of respondents saying they own one. The countries with the least smartphone ownership rates are also among the poorest: Tanzania (11%), Uganda (4%) and Ethiopia (4%).