Kenyan banks to share payment platform through Verve International
Twelve local banks have partnered with a leading payment solutions payments solutions company that will allow customers to use the platform to make cross-banks digital withdrawals and payments.
The deal with Verve International allows for sharing of infrastructure amongst banks and opens up a wider network of services for their customers.
They banks include KCB, Family Bank, Sidian Bank, Prime Bank, Stanbic, UBA, Credit Bank, GT Bank, DTB, NBK, Faulu and NIC.
The network links together mobile channels, ATMs and agents from the banks and is operated by Verve’s parent company, Interswitch Group.
Verve is best known as a card issuer and has more than 32 million Verve cards anddigital tokens issued across Africa.
Banks can issue Verve as either a prepaid, credit or debit solution.
“Kenyan consumers are ready for a converged payment experience regionally that brings together the benefits of a bank card with the latest payment technologies in mobile and web. Through the largest acquired networks in the region, we will provide thousands of locations for Verve customers to transact securely and efficiently,” said Paul Ndichu, CEO of Interswitch East Africa.