August 23, 2018 IBOMLLC Team

EAC States looks to resolve cross-border ATM Link Stalemate

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

The East African Community (EAC) despite claiming regional economic integration still proves a challenge for citizens roaming between the states; Kenya, Uganda, Tanzania, Rwanda, and Burundi. And the difficulties felt by citizens come from a number of angles, from call roaming rates, roaming internet charges, and ATM usage.

Banks across Kenya, Uganda, Tanzania, and Rwanda have been working on a way to link ATM bank services across the EAC since 2015, but spanners were thrown into the works as the talks hit a stalemate. The regional government are now said to be taking up the matter and are reviewing the financial laws that will smoothen any kinks that have stalled the talks, and making banking integration across the EAC a mirage.

Tuesday, August 14, government representatives from across the EAC member states were in a meeting whose agenda was to find ways to unlock the stalemate and see the implementation of interoperability of card switches and cross-border payments. Something that will significantly bring down the cost for a customer withdrawing funds from a local ATM in a neighboring country.

Should the EAC states resolve the stalemate, it will …read more

Read more here:: EAC States looks to resolve cross-border ATM Link Stalemate

      

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