This Is Why KCB is Promoting A Cashless Society

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Customers at KCB-Kencom Branch banking Hall in Nairobi. Picture: Anthony Kamau

In a bid to boost card payment, one of the  initiatives  Rwanda’s  financial  sector is using to usher in  cashless  economy, Kenya Commercial Bank –KCB is providing cash refunds for  customers who  use cards to  buy lunch.

The move, according to Albert Akimanzi, the Head of Marketing and Communication is one of the effective  ways to bolster card usage mainly on point of sales-POS thus reduce use of cash in  transactions.

“Payment services are quickly transitioning from cash to cashless based platforms. We regularly reach out to customers to educate them about these various platforms to ease their payment processes,” he said on Thursday.

Accordingly, the bank, a subsidiary of Kenya Commercial Bank group has 50 merchants around the country with an average of 3,000 transactions every month, which sector experts say is still relatively low.

“We are progressively growing our point of sale presence in Rwanda,” he said adding that there is optimism that the Pay & Go promotion is likely to change customers’ attitude  that using the  card payment is hectic compared to paying cash.

“It is important that customers to understand that these services have more relevance in their day to day lives,” he added.

The bank is  currently  carrying  its  promotion  in  selected  restaurants of Chez John,, Masters lounge, Ogopogo, Sundowners, Africa Bite, Lamane and Makfast.

Moreover, the bank has also seen its mobile banking grow with now over 40, 000 users of Mobile banking and MOBI App, something that made it emerge as the best innovative bank in the recently concluded 19th International Rwanda trade fair.

“It represents our ambition to continue developing stand-out, innovative solutions for our customers,” Akimanzi added.

Recently, the bank embarked on development of new digital driven products to help shift the bank closer to its clients, as the sector changes to technology lead after government took steps to boost ICT through affordable internet.

 

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