KCB and Visa Launch Smartphone-Based Payments for Merchants in Kenya

KCB Bank Kenya has teamed up with Visa to unveil a new digital payment solution that's aimed at letting merchants accept card payments straight on their mobile phones. The move aims to cut the high costs that are associated with traditional POS machines and make digital payments a lot more accessible to small businesses right across the country.

Turning Smartphones into Payment Terminals - Because Why Not ?

With the new tech, any smartphone can double up as a tool for taking payments , so traders can get paid on the spot - whether they're in a shop, on the move or serving customers in those informal markets.

KCB claimed the rollout was just one of its latest step in their commitment to providing a pain-free, secure and speedy digital payment options for both merchants and customers.

"This deal with Visa is a game-changer that gives every single merchant the ability to take digital payments with just their phone,"
says Jane Isiaho, Head of Retail and Banking at KCB Bank Kenya. You can already tell she's excited about this.

A Boost For Small Businesses That Really Needed it

Despite the fact that there's been a rise in card holders in Kenya, many small businesses have been discouraged from adopting digital payments because the cost of POS machines just put them out of reach.

The new solution using smartphones removes this barrier by giving businesses a more affordable and flexible way to accept payments - the latest tech has several benefits including:

• all those small shops and kiosks

• market traders trying to make a buck

• delivery riders and service providers too

• and even mobile and home-based businesses

By making digital payments more accessible to everyone, the partnership will likely speed adoption of cashless payments in the country.

Shaking Things Up - Kenya's Digital Payments Scene

With the arrival of of this technology that allows for payouts via smartphone, Kenya's cutthroat payments market is poised to shift towards more cashless transactions.  With a cheaper and more convenient way to accept card payments on the cards, businesses are expected to utilize the initiative and improve their mode of payments across the board.

Visa reckons this is going to be especially good for mobile workers who rely on having something that is lightweight, easy to carry and doesn't cost alot.

KCB to Be on Hand for Merchants

KCB will be tasked with making sure that businesses are well taken care of when they sign up to the new service and even after they're up and running. KCB will make sure there is:

• fast and easy sign-up process.

• quick help when things go wrong.

• a seamless integration into daily life.

The goal is to make it as easy as possible for businesses to get up and running with the new technology without any hiccups.

Paving the Way to a Kenya with Less Cash

By letting small businesses accept card payments on their smartphones, KCB and Visa are bringing Kenya, one step closer to a more inclusive and digitally driven financial world.

The partnership is opening up a whole new chapter for businesses of all sizes, giving them an easy way to accept payments and meet customers where they are, without all the hassle and expense of traditional POS machines.