Bank In Your Mobile Phone

Bank in your mobile phone? Could this be the beginning of the end of banking as we know it? With the advent of mobile phones, some mobile phone companies have introduced innovative services that have caused shockwaves in the banking industry.

Take the hugely successful MPesa for example. This product by Safaricom of Kenya is probably the first to employ real mobile banking technology in the world and is the most widely used bank in your mobile phone service in the world. It currently boasts of more than 5 million registered users in the country and the number is growing.

At first the main stream banks ignored it hoping it would not compete their services. Then they realized the thing was gaining popularity among the low and middle income groups. The exponential growth registered by the new bank in your mobile phone service caused a national panic and they immediately sought the protection of the Central Bank, the monetary regulator in the country. But then the horse hard long bolted. So popular had MPesa become with the ordinary folks that they threatened to boycot ordinary banking services if it was discontinued for any reason. Naturally CBK had to play ball otherwise the ordinary folks could have revolted in a scale beyond comprehension. MPesa was unconditionally allowed to operate.

Realizing that fighting the bank in your mobile phone product was not an option, smarter banks decided to embrace MPesa. In fact a number of them have already registered as agents of this new kid on the block. It is just a matter of time and the rest will follow suit. They simply do not have a choice.

So what is this MPesa thing and how does it operate?

Well, mobile banking is not new in the market because most banks now employ mobile phone technology to enable customers access simple transactions such as balance enquiry, mini-statements and purchase of air-time.

M-PESA, the new bank in your mobile phone technology is different in the sense that the service allows you to use your mobile phone to carry out important money transactions that were hitherto a preserve for banks. The service is available to all members of the public, even if you do not have a bank account or bankcard. Available services include cash deposit, cash withdrawal, funds transfer, balance enquiry, direct purchase of air time among others.

The most interesting bit is the fact that Kenya is the first country in the world to introduce the bank in your mobile phone service, which is offered by Safaricom - the main mobile phone operator in the country.

The facility was initially intended to assist the poor rural folks who do not operate bank accounts to access money transfer services within reach. People who work in towns found it convenient to send money to their distant relative through the bank in your mobile phone service. They also discovered that apart from the transfer, you could actually retain the balance in your phone until such a time that you were ready to transfer or withdraw it. Most people now maintain huge balances in their mobile phone banks.

The other convenience with the bank in your mobile phone is the many M-Pesa agents who are spread all over the country and operate 24 hours thus making it easy to access the service anywhere.

On security issues, I would give M-Pesa a 9 out of a scale of 10. It is almost impossible for an un-authorized person to access the money, unless he has access to the security code given to the account holder. Even when you lose your phone, the bank in your mobile phone balance is still secure! All you need to do is report to Safaricom and a new SIM will be issued with your account balance intact.

HOW TO DEPOSIT CASH
All you need to do is go to an M-PESA Agent and:
1. Give him the cash and your mobile phone number
2. You and your Agent will receive SMS confirming the deposit

HOW TO SEND MONEY
3. On your M-PESA phone menu, select “Send Money”
4. Enter recipient’s phone number, the amount and your PIN
5. You and the recepient will receive SMS confirming the transfer

HOW TO GET CASH
If you are a registered M-PESA Customer
Go to an M-PESA Agent and:
1. Give your phone number and show your ID / passport
2. Go to your M-PESA menu, select Withdraw money
3. Enter the Agent number, the amount and your PIN
4. You and your Agent will receive an SMS confirming the transfer
5. The Agent will then give you the cash

If you are not a registered M-PESA customer but have received notification of money transfer to you
Go to an M-PESA Agent and:
1.Give your phone number and show your ID/Passport
2.Give the code in your SMS from M-PESA.
3.The Agent will do the transaction on your behalf using his phone.
4.You and your agent will receive an SMS confirming the transfer.
5.The agent will give you the cash.

Just like that! Can you see now why the banks are up in arms against the bank in your mobile? I think they are justified - if they must survive.

Are You a Victim of Frequent E-mail Delivery Failure?

If you are like most of us, you probably receive hundreds of junk mail every day. Lots of internet service providers and some individuals, are taking steps to block or reduce the amount of junk email in their inboxes.

However, the trouble with these measures is their inability to identify legitimate email. Assuming that your email to other places is working and yet not being delivered, it's quite possible that you're a victim of these programs.

There are several reasons why legitimate email typically gets erroneously blocked: The receiving system thinks your email looks like spam, the receiving system thinks that you're sending it from an address that is or has been accused of being a spammer. Being automated systems, it's the mistakes associated with that thinking that cause legitimate email to be mistaken for spam.

Spam content filters assign points for various behaviors that are also associated with email that comes from a spammer. As soon as you collect too many points (where "too many" is up to the receiving system, or the individual recipient), your email is flagged as spam. Some of the culprits to watch for in your email include:

• Phrases in your email such as "adults only", "over 18" and the like.
• Sexual performance enhancement drugs.
• Sales related shouting (or alternative SHOUTING or not) as sales copy.
• Email "Reply-to" address that does not match the "from" address.
• Email that contain HTML tags.
• Words and phrases such as "satisfaction guaranteed", "free offer", or any of a host of email sales wording are most likely to get you filtered.

It is also common for emailsto be blocked because it came from an IP address that's been identified as somehow being related to spammers. If you're not getting your email bounced back to you with some indication, this is both harder to detect, and harder to resolve.

I'm not saying that any of those things in your email is bad, or that any one of those things will cause your email to be blocked. The unfortunate reality of the situation is that the more your email looks like spam, however remote, the more likely it is to be treated as spam.

Finally, when you detect that your email address has been blacklisted, or you suspect something is wrong, you should contact your ISP. They're responsible for keeping spammers away from it, and ensuring it's working.

If they can't help, then it's probably time to move on and get an ISP that's interested in keeping your email working always.

How to Identify Potential Customers From Miles Away

The other day I was travelling to Kisumu and used the public transport in my country. I noticed something quite interesting. The bus conductor had a knack for identifying potential customers from hundreds of meters away. To some of us, all pedestrians looked the same. But not so for the conductor. Any time he sported somebody whom he thought was waiting to take a bus ride, he would start to wave in inviting gestures and for sure the person would wave the bus down and get on. These guys can read your mind from miles away.

Can you imagine how powerful this could be to you if you were able to read the intention of people around you. How many times have you missed to sell something, only to discover that the person whom you just passed picked the item from your competition? Of course it is difficult to identify potential customers from a crowd. Like a fisherman, you must cast your net wider. Consider who would make a good customer and then look for ways to meet those people. Chamber of commerce meetings, co-operative meetings, local civic associations, regional trade shows, professional conferences, and phone calls can all be effective. So, too, can networking online through message boards and mailing lists. Don’t spam the boards or lists with links to your products. Just participate and contribute to the groups that are likely to include potential customers for your services and you will get known.

Everyone you get in contact with is a potential customer. The woman next to you at a wedding or the man sitting in the seat next to you in the church, might just be a customer. Instead of minding your own business, strike up a conversation. Find out what they do, and eventually they’re likely to ask what you do. Majority of good businesses are brought in through such encounters.

Google Adwords or any Pay Per Click advertising can be a very affordable way to find potential customers for your business. Even if you just sell to consumers or businesses in your local area, pay per click can be helpful. The major search engines all feature local pay per click advertising. Somebody looking for a local mechanic, might search for the phrase “Mechanic in Westlands” and be directed to a web site that has a phone number to call a Westlands Mechanic.

Social networks are rich sources for potential customers. Participate in social networks forums where people interact. Read widely especially trade publications, interact with as many as possible of industry players and find ways to introduce yourself to people you’d like to get to know. If you can’t meet them in person, try inviting them to like your pages etc. Don’t waste their time. Have a specific question or problem in mind that you’d like them to help with. Then follow up with a note thanking them and telling them how much you appreciate their help.

Just because a prospect doesn’t buy today doesn’t mean they won’t buy. Some industries and some products have very long buying cycles. Even if the initial prospect doesn’t buy, they may give your name to someone who does.