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The positioning of the M-Pesa product to capture the unbanked segment of the population especially in the lower income level bracket by providing a product that can easily and conveniently be accessed has made the M-Pesa become popular among the low income earners customers.

Strategies used by Safaricom to popularize the M-pesa product were an adoption of technology in the product development that has given it an edge over the other players. This has come about due to the increased investment in innovation and that employee’s use modern technology in their processes. The low cost strategy model also came out as yet another strategy that is used, Japanese concept of continuous improvement of a product or Kaizen, product differentiation through offering M-Pesa products with unique or superior value to the customer through product quality, features, or after-sale support.

Sasfin together with money transfer company Hello Paisa have launched a low-cost banking product to rival others in the mass market segment.

Given the different attitudes of investors toward digitalization, robo-advising can be segmented into two main sectors. The first one is pure robo-advising, which is completely free from human intervention in the advisory process. This results in considerably lower fees compared to traditional advisory services, attracting lower-income clientele. As reported by Ringe and Ruof (2018), pure RAs charged fees ranging between 0.4% (US market) and 0.8% (European markets), compared to human financial advising costing circa 1–2%. Pure RAs have become quite popular due to their propensity to avoid conflict of interests due to automation. Fisch et al. (2017) highlight that RAs are less exposed to conflict of interests due to their higher independence, smaller bias to recommend actively managed funds that generate commissions as a potential additional expense, more transparent cost structures, lower minimum investment requirements, and 24/7 availability.