Nairobi — Visa, the global leader in digital payments, is reshaping the payment landscape in Kenya by introducing new contactless solutions.
This strategic move aims to facilitate faster and more efficient transactions, capitalizing on the increasing reliance on mobile devices such as smartphones and smartwatches for making payments.
James Kabuthi, the Head of Product and Solutions for East Africa at Visa, has observed a substantial shift in consumer behaviour, with a growing number of individuals favouring mobile devices over physical cards for their payment needs.
"We've reached a point where people are more likely to leave their wallets at home than their phones," Kabuthi pointed out, underscoring the rising significance of mobile payment methods.
Visa's innovative contactless solutions employ cutting-edge technology, enabling customers to effortlessly tap their smartphones or smartwatches on point-of-sale machines to complete a payment. It also allows merchants to use their normal smartphones as point-of-sale machines.
For consumers, Visa has partnered with KCB Bank to allow customers with Android handsets and Garmin wearables make payment transactions using their devices, deepening the uptake of contactless payments.
A first one of its kind in the Kenyan market, the new service allows customers to make in-store payments through the KCB App by tapping their Near-field communication (NFC) enabled smartphones at any contactless-enabled payment terminal.
To support merchants, especially SMEs, Visa and Absa Bank Kenya introduced the Absa Mobi Tap solution, a market-first payment solution that allows small businesses to accept card-based payments from customers using an Android smartphone.
This convenient and secure solution quickens the purchasing process by leveraging the smartphone as a point of sale (POS) and allows customers to simply tap their debit or credit cards on an Android phone or tablet to make a payment.
These partnerships highlight Visa's commitment to driving innovation and expanding the reach of contactless payments in Kenya.
By joining forces with leading banks in the country, Visa is accelerating the adoption of secure and frictionless payment methods, empowering businesses and individuals to embrace the benefits of cashless transactions.
Kabuthi envisions the extensive applicability of these contactless payments across various sectors, particularly in public transportation systems like trains, where commuters can conveniently tap their devices to pay fares.
He emphasized that the objective is to introduce such seamless payment experiences throughout Kenya, transforming the way transactions are conducted.
To support these groundbreaking changes, Visa launched a comprehensive zero charges campaign to educate consumers about the absence of transaction fees associated with contactless payments.
This initiative is expected to further incentivize users to adopt this payment method.
It is a testament to Visa's commitment to promoting financial inclusion and ensuring that everyone can access the benefits of secure and frictionless payments.
"Our aim is to empower individuals to make swift, secure, and hassle-free transactions by enabling tap to pay, regardless of their location or the item they wish to purchase," Kabuthi stated enthusiastically.
The positive impact of Visa's contactless solutions is already reverberating throughout Kenya.
Users have expressed their satisfaction with the seamless payment experience, highlighting the convenience and time saved by eliminating the need to fumble for physical cards.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
With the added benefit of zero transaction charges, these contactless payments are gaining rapid traction and are poised to become the new norm in the country.
Furthermore, the implications of Visa's initiative extend beyond individual consumers.
Businesses across Kenya are also reaping the rewards of this transformation.
Merchants and service providers can now process payments swiftly, reducing waiting times and enhancing overall customer satisfaction.
The streamlined transaction process unlocks new opportunities for growth and financial prosperity.
As Visa continues to push the boundaries of what is possible in the payment industry, Kenyans can look forward to a future where mobile devices serve as the primary means of conducting transactions and streamlining the entire payment process.
