Harmonisation of Consumer Protection Laws In Mobile Money Transaction Across East African Community. A Comparative Study of Kenya And Tanzania

Ramadhani, Masanja Martine (2019) Harmonisation of Consumer Protection Laws In Mobile Money Transaction Across East African Community. A Comparative Study of Kenya And Tanzania. Masters thesis, The Open University of Tanzania.

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Abstract

This study presents critical analysis of Harmonisation of Consumer Protection Laws in Mobile Money Transaction Across East African Community. A Comparative Study of Kenya and Tanzania. The research generally, tries to analyse the laws that regulate mobile money transactions, its effectiveness and loopholes thereof. The main target being to regulate mobile payment system in order to protect consumers and to augment the reliability of National Payment Systems by ensuring that consumers have a good way of discovering and managing all risks related to mobile transactions. All regulatory gaps should be minimized to ensure consumer protections. Security challenges on consumer protection in mobile transaction have also been evident. It is not easy to determine the party responsible for addressing the problems that arise in the transactions process, the procedure for seeking redress, and the types of remedies which can be obtained. There is also inadequate regional coordination in the current legal framework governing mobile transfer across East Africa community between M-pesa Kenya and Tanzania. There are potential overlaps between the existing regulatory tools and mobile infrastructures between the two countries. Laws were enacted by each country without taking into consideration the issue of cross boarder mobile remittances. Despite the fact that Kenya and Tanzania have enacted laws governing national payment system, they still fail to keep up with the changes occurring in the mobile money industry. The fact that the laws in these countries have not been harmonised, poses a great challenge in the coordination of cross border mobile transactions.

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