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 KCSE business studies paper 2 revision questions and answers set 6

Explain five reasons why mobile banking services are becoming increasingly popular in Kenya.

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Answer Text:
-Account information. Provide mini statements and checking account balances, access to loan statements, status on cheque books etc
-Money transfer. Facilitates transfer of money through mobile at all times
-Withdrawals at agents. Mobile phone users(customers) withdraws money through agents using their mobile phones.
-Payment of utility bills such as electricity, water and transport
-Mobile recharging. It allows customers to top up their airtime