ePayment Systems and Alternatives for developing countries

Abstract

The main purpose of this research project was to examine the ePayment alternatives that exist in Kenya and the world, and the extent of use of e-commerce and ePayment methods in Kenya. The other objective was to find out if the lack of suitable ePayment alternatives in Kenya was a barrier to organizations and their customers exploiting the enormous potential of e-commerce. The study also set out to examine the challenges faced by providers and consumers of ePayment and e-commerce services in Kenya. Three samples; one of individuals, another one compromising organizations and another sample of commercial banks and PSPs (payment Service Providers) were studied. The research found out that indeed the lack of suitable ePayment alternatives among other factors was a critical challenge to the growth of e-commerce in Kenya. Several recommendations to address the issues raised in this research were proposed. An ePayment model suitable for individuals in Kenya was also proposed.