Kenya Commercial Bank (KCB), in partnership with Visa and Thales, has unveiled an innovative payment service that enables KCB customers to make contactless transactions using their Android smartphones and Garmin wearables. This strategic collaboration aims to accelerate the adoption of cashless payments in the country.
Through the KCB app, customers with NFC-enabled Android smartphones or Garmin wearables can now make in-store payments seamlessly. This novel offering, the first of its kind in the Kenyan market, allows users to tap their devices on contactless-enabled payment terminals, initiating a secure and convenient transaction.
“To access the service,” the East African Bank wrote in a LinkedIn post, “customers will need to digitise their KCB Visa card by following the instructions in their banking app. Once the card credentials are provisioned on their mobile devices, users can simply open the KCB app, select NFC payments, tap their phone at the point of sale, and enter their PIN to complete the transaction. It’s important to note that only large transactions or less frequently visited stores will require the PIN.”
However, one requirement for using this service is that the customer’s smartphone must have an NFC chip. While most modern phones are equipped with NFC, some manufacturers opt out of including this feature to reduce costs.
This collaboration between KCB, Visa, and Thales marks a significant milestone in Kenya’s digital payment landscape. Other contactless payment options in the market predominantly rely on cards, making this mobile device-based solution a unique offering.
Safaricom had previously introduced a similar product called One-Tap in 2017, utilising M-PESA and NFC technology for retail payments. However, due to low demand, the telco discontinued the service. Stripe also, towards the last week in February, launched “Tap to Pay on Android”, enabling businesses to accept contactless in-person payments using a compatible phone or tablet.
With over 354 branches, 26,394 Agents/POS Merchants, and 1,103 ATMs, KCB Group serves more than 26.8 million customers across the region. The bank also provides additional banking services such as mobile banking through the KCB App, internet banking, and diaspora banking, all accessible on a 24/7 basis.
As of the end of H1 2021, KCB Group’s asset base is estimated to be approximately Ksh. 1.02 trillion, reinforcing its position as East Africa’s leading financial services provider.
