KCB Bank has partnered with Visa and Thales, a French multinational dealing in technology to allow its customers to make contactless payment transactions.
Through the service, KCB customers with Android handsets and Garmin wearables which offer fitness and health tracking products will be able to access all transaction information to help them complete purchases.
The new service will also allow customers to make in-store payments through the KCB app by tapping their near-field communication (NFC)-enabled phones at enabled payment terminals.
“Eliminating the need for a dedicated terminal and enabling the merchant to use their cellphone to accept card payments is revolutionary and a significant game-changer within the digital payments ecosystem,” said Michael Kungu, KCB Bank acting director of retail banking.
“Through our partnership with Thales and Visa, we are looking at supporting the financial inclusion agenda and helping businesses deliver new and best-in-class contactless consumer experiences using a device they already own a smartphone.”
Safety, security
Kenya has been recording an increase in the adoption of digital payments over the past three years, prompting the payments ecosystem to heighten the safety and security of payment platforms and channels.
Data from the Central Bank Kenya (CBK) shows that the use of bank cards to shop hit a record high at 4.4 million transactions by May 2022 from a low of 676,275 in August 2014, indicating the attractiveness of the payment option.
A survey by Visa conducted in September 2022 ranked Kenya first in the use of digital payments across Africa ahead of South Africans and Nigerians.
To access the service, customers will need to digitise their KCB Visa card as a once-off set-up by following instructions in their banking app.
