KCB merchants can now received payments directly to their accounts for goods and services from Airtel Money users in an interoperability deal brokered by the two firms.
Under the deal, Airtel Money users will be able to make payments to KCB merchants’ till through the Lipa Na KCB services which the two firms say is secure, fast, efficient and will enhance financial inclusion.
According KCB Bank Kenya Managing Director Annastacia Kimtai the deal is part of the bank’s promise anchored on creating an efficient payments ecosystem that will be instrumental in accelerating financial inclusion through a new model centered on low-value, high volume transactions.
“Reaching critical mass will require mobile money ecosystems to become more dynamic and productive and such a move will enable us scale our offering while giving customers the freedom to empower themselves,” said Kimtai.
Airtel Money Managing Director Mrs. Anne Kinuthia-Otieno attributed the partnership to the evolution of mobile money interoperability, which now provides customers with limitless choices for conducting their mobile transfers and payment transactions.
“This collaboration underscores Airtel Money’s ongoing commitment to improving customer experience and promoting financial inclusion through innovative partnerships. With the integration of Lipa na KCB into Airtel Money’s ecosystem, customers now have greater flexibility and convenience in paying for goods and services,” she added.
Airtel Money customers are expected to enjoy lower transaction charges as compared to current market rates and through interoperability, customers will access seamless payment solutions without the hassle of transferring money to other networks.
