KCB Bank Kenya, in partnership with global payments leader Visa, today announced a groundbreaking collaboration to deploy a nationwide Tap-to-Phone contactless payment solution.
This innovative technology will transform a standard Android smartphone or tablet into a secure, portable point-of-sale (POS) terminal, empowering merchants of all sizes to accept contactless payments with unprecedented ease and flexibility.
The initiative aims to accelerate Kenya’s digital payment ecosystem by removing traditional barriers to electronic payment acceptance, such as the cost and logistics of acquiring dedicated hardware.
This solution is set to significantly enhance financial inclusion, enabling small and medium-sized enterprises (SMEs), micro-merchants, and even service providers in remote areas to participate fully in the digital economy.
Key benefits of the Tap-to-Phone solution include:
- Lower Cost of Acceptance: Eliminates the need for dedicated card terminal hardware, reducing setup costs for merchants.
- Enhanced Mobility & Convenience: Merchants can accept payments anywhere, from market stalls and food trucks to delivery services and pop-up shops, using their own mobile device.
- Increased Security: Leverages Visa’s global security standards and tokenization to ensure every contactless transaction is secure.
- Speed and Efficiency: Transactions are completed in seconds with a simple tap of a contactless card, mobile phone, or wearable device, improving customer experience and business throughput.
By James Kisoo
