Visa has partnered with KCB Bank and the Boda Boda Safety Association of Kenya (BAK) to digitize payments for the motorcycle transport operators.
The partnership will see a three-month pilot project where 100 Boda Boda riders will be enabled on Visa on mobile so that they can make and receive payments using the solution. The free mobile payment solution is expected to accelerate safe digital payments and financial inclusion among boda operators. KCB will train the riders on the use of Visa on mobile.
The payment card will enable boda boda operators to grow their business while reducing the costs associated with handling cash. The payment card will also let the boda boda operators be in complete control of their payments, thereby minimizing the risks of unauthorized transactions.
In a bid to help the Boda Boda sector become more compliant to the government’s safety regulations, Visa has contributed to 50% of the cost for the 100 riders that will engaged in the pilot phase.
Kennedy Luhombo, Senior Business Development leader, Merchant Sales and Acquiring, Visa East Africa, had this to say, “The digitization of Boda Boda payments is a key component of Visa’s drive to enhance financial inclusion among the communities and customers that we serve. With Visa on mobile, we are providing an efficient means for Boda Boda operators to receive payments, understanding the obvious security risks that come with handling cash. We are tapping into VisaNet, our secure gateway to bring the Boda Boda sector into formal financial sector.”
Customers can use Visa on mobile to send money directly from their bank to a recipient’s bank account regardless of whether they use the mobile app or USSD code of the bank.