Kenya: KCB is waiting for green light to go cross border for card payments

Wednesday 13 August 2014 13:00 CET | News

KCB bank is waiting for approval from the Central Bank to upgrade its payment cards to enable customers to transact across the 6 regional markets in which it is present, reports.

KCB has informed that it is undergoing integration of its chip-and-pin compliant cards to Near Field Communication capability and that the process will have been finished by the end of August 2014. NFC technology allows the exchange of data between digital devices about 10 centimetres apart, enabling customers to pay by tapping instead of swiping their cards.

Joshua Oigara, KCB chief executive, has informed that the technology is already operational between the bank and the Central Bank. The lender aims to issue 5 million NFC-enabled chip cards by end of 2014.

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Keywords: Kenya, KCB, cross border, card payments, NFC, mobile, alternative payments, Customers, central bank
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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