Like most start-ups the established players underestimated the capacity of the new kid on the block to eat their lunch[1]. By the time banks ganged together to

Like most start-ups the established players underestimated the capacity of the new kid on the block to eat their lunch[1]. By the time banks ganged together to lobby against the service it was too late [2]. [1] http://www.moneyweb.co.za/mw/view/mw/en/page292681?oid=551037&sn=2009+Detail&pid=287226 http://www.moneyweb.co.za/mw/view/mw/en/page292681?oid=55103... [2]http://kenyaaudit.blogspot.com/2008/12/banks-now-gang-to-finish-m-pesa.html http://kenyaaudit.blogspot.com/2008/12/banks-now-gang-to-fin...