Float Management

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Features

Float Management

Agency banking is relatively cheap compared to mobile money. The rate sheet below shows comparison of transactional charges between mobile money and different bank agents.

Min

Equity Bank

Co-op Bank

KCB

M-pesa

101 - 500

25

50

20

27

501 - 1000

25

50

20

28

1001 - 1500

25

50

20

28

1501 - 2500

25

50

20 - 32

28

2501 - 3500

75

50

32

50

3501 - 5000

75

50

32

67

5001 - 7500

75

70

53

84

7501 - 10000

75

70

53

112

10001 - 15000

145

80

75

162

15001 - 20000

145

80

75

180

20001 - 35000

175

100 - 120

105

191

35001 - 50000

195

120 - 140

105

270

50001 - 100000

225

250

185

300

Challenges Facing Agency Banking

There are few challenges that hinder the success of agency banking this include

  • Expensive infrastructure – The infrastructure depends on Visa, Master Card and POS devices.
  • Agent float Management – An agent might be managing different bank agencies hence they are unable to manage what amount to top up in which bank, hence cannot serve customer due to lack of liquidity.
  • Bank agent coverage is less which is an inconvenience to customers who cannot access major bank branches.

Solutions

  • We provide a single Float account that enables agents to transact for Multiple banks.
  • Our Infrastructure does not depend on VISA, Mastercard and POS hence a reducing the transactional cost.
  • Netcent will invest in agency presence across the country.