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ii) In June 2018, a Business Memorandum of Understanding (MoU) was singed between a Kenya-based regional financial institution - Equity Bank and a Singapore-based payment

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ii) In June 2018, a Business Memorandum of Understanding (MoU) was singed between a Kenya-based regional financial institution - Equity Bank and a Singapore-based payment company - Red Dot Payment to introduce Alipay and WeChat Pay to Kenya. In your opinion, will the arrival of Alipay and WeChat Pay challenge M-Pesa in Kenya and why? (6 marks) (200 word limit)

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