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=55103...

[2]http://kenyaaudit.blogspot.com/2008/12/banks-now-gang-to-fin...