Co-operative Bank of Kenya (Co-op bank), in partnership with Visa, have launched a Debit Card, a Credit Card and a Pre-paid Business Card for businesses. The new cards are targeted towards helping businesses manage their expenses, empower employees and optimize financial control.
The cards, which can be used both locally and internationally, enable customers to separate business expenses from personal expenses, make payments directly from their business account. They also help them access interest-free credit to manage cash flow, digitize and track office and travel expenses while enjoying discounts from selected Visa merchants globally. The cards are available to existing Co-op Bank customers and non-customers, and can be obtained from any Co-op Bank branch countrywide.
In delivering his speech at the event, Co-op Bank’s Ag. Director of Retail Banking Mr. Moses Gitau noted that this event marks a major milestone in Co-op bank’s digital transformation journey in which the bank has invested heavily including the successful upgrade of its core banking system in 2023 at a cost of over Ksh. 5 Billion, to drive innovation and support businesses in their digitization efforts by bringing together the best in banking and technology.
Chad Pollock General Manager for East Africa, Visa
Visa East Africa Vice President and General Manager remarked, “this launch marks a significant milestone in our partnership with Co-op bank and our ongoing efforts to support small and medium-sized enterprises (SMEs) and commercial enterprises in their journey towards digital transformation. Digital payments are not just convenient; they are a catalyst for business growth and economic development. In today’s fast-paced digital world, businesses need to adapt to stay competitive, and digital payments play a crucial role in this transformation”
The Co-operative Bank Group (Co-op Bank) was listed in year 2008 and has 5 subsidiaries namely: Kingdom Securities Ltd, Co-opTrust Investment Services Limited, Co-op Bancassurance Intermediary Ltd, Kingdom Bank Limited and Cooperative Bank of South Sudan. The bank also owns a 24.8% stake in CIC Insurance Group and 25% of Co-op Bank Fleet Africa Leasing Limited. The Bank’s footprint across Kenya and the region includes: 204 branches in Kenya, 5 in South Sudan, 603 ATMs and Cash Deposit Machines (CDMs), and over 16,000 Co-op Kwa Jirani agency banking outlets.