KCB is leveraging on its huge investment in modern information technology infrastructure to enhance cashless payment solutions.
With the implementation of the T24 core banking system in 2008, the Bank has been able to invest in technology-driven products such as internet banking, intelligent ATMs, KCB Mtaani, Account-Based Money Transfer Services (ABMT) M-Benki and the card business.
In the card business, this technology allows data to be exchanged between devices via short-range, through combining the interface of a smartcard and reader into a single device.
The bank is currently operating on an EMV platform which is more secure and efficient with its next implementation phase being the Near Field Communication (NFC) which is more cost effective.
Speaking during the official handover of air tickets to winners of the just- concluded consumer promotion dubbed â€œSwipe your KCB VISA debit/credit cardâ€ to travel to Brazil to watch the World Cup, the bank also launched the new KCB MeCash prepaid card. KCB Chief Business Officer and Managing Director-Kenya, Mr. Samuel Makome, said that the world is now going cashless and KCB is delighted to be part of the exciting journey.
â€œKCB started its technology journey six years ago through the implementation of a new core banking system. The platform offers the bank an opportunity to innovate and partner with other like-minded organization to create value to our customers and other stakeholders through appropriate product and service innovation to meet the needs of our target market .This venture is part of the Bankâ€™s long-term strategy towards supporting the financial inclusion agenda,â€ Makome said.
On his part, Visa Country Manager, Jabu Basopo said that the launch of the KCB MeCash prepaid debit card which is Visa enabled will allow KCB customers to manage their finances by eliminating the need to carry cash. They will also get to enjoy the convenience of shopping at any Visa-enabled physical or online retail points.
Other Prepaid debit cards in the market include: NationHela, Nakumatt Global Card, Mi-Card and Naivas Card.