Kenya: KCB, Visa Speed Up Kenya E-Commerce

E-commerce has been effectively accelerated in Kenya following a partnership between Kenya Commercial Bank (KCB) and Visa to launch mVisa.

It is the mobile payment solution that will operate through the use of the Quick Response (QR) code.

mVisa offers an interoperable feature that assures users of a service that is trusted, reliable and has scale.

The service introduces the use of the QR code with KCB Bank to reduce the amount of errors accompanied through the input of payment details. Through this service, the user will only need to scan the QR code and input the PIN to complete the transaction.

KCB reported the launch of mVisa meant a new frontier to the conduct of the merchant acquiring business, Person to Person transactions go a notch higher and moving funds from card to card both locally and internationally was simpler.

"mVisa promises a new dawn by unlocking greater opportunities to merchants and consumers alike simply by use of the mobile phone. KCB Bank is currently carrying out testing of the mVisa service in Rwanda, to increase the chances for financial inclusivity across the region," says KCB Bank Kenya Head of Channels, Dennis Njau.

SOURCE:CAJNEWSAFRICA