KCB has partnered with GoSwift in a deal to offer a new mobile payment facility targeting Kenyan Small Medium Enterprises (SMEs) such as taxi drivers, restaurants and schools.
Through a mobile high performance Bluetooth card reader, SMEs will be able to access online commerce while in remote environments. The mobile point of sale service accepts Visa, MasterCard and JCB.
GoSwift’s CEO, Simone Ranucci Brandimarte said: “A time has come when financial institutions— and society’s expectations of them— are changing rapidly. We are leading the way in innovating and providing secure payment solutions that help banks and merchants meet the growing demand for digital payments in both emerging and developed markets.”
GoSwiff has in the past implemented similar solutions across Africa, and has prioritised on aggregating multiple forms of digital payments.
The new development is a strategy to reach out to the unbanked population through alternative financial delivery channels to capture the untapped market.
“In the long term, the system will maximize revenue and improve on efficiency as the East African economy increasingly goes cash-lite,” said KCB Retail Director, Annastacia Kimtai.
At a time when the government has called upon public service sectors to digitise operations, KCB aims to strengthen financial inclusion and cash lite agenda foot print through GoSwift’s system.