Payment switch provider Kenswitch banks on devolved government to grow business

By Standard Digital Reporter

NAIROBI, KENYA:  National Payments switch provider Kenswitch is betting on opportunities offered by the new county governments to grow its foothold in the country. 

The company has embarked on a network upgrade in a mutually beneficial arrangement that will see County governments brought on board to the payments platform to enhance   revenue collection as the devolved units move to seal revenue loopholes.  

The timing of the upgrade is critical and comes at a time when the County governments are preparing to receive devolved funds for development in line with the new constitution. 

“The new county governments need efficient payment solutions that will allow optimal collection of fees and levies on a real-time basis while at the same time bring financial services closer to the people,” said Kenswitch’s Managing Director George Wainaina. 

Wainaina said the company would also work with third party Value Added Service providers to provide payment solutions across several channels including the Points of Sale, ATMs, Agents, Branches, Mobile and internet. 

He said Kenswitch is working closely with the Kenya Bankers Association to facilitate the roll out of Chip Cards into the market to further enhance security around card payments. He was speaking in Nairobi soon after signing a partnership  between Kenswitch and Sumac DTM, a Deposit Taking Micro Finance Institution.

Under the new agreement, Sumac customers will now be able to access their money and transact other businesses, from any of the Kenswitch payment points in Kenya and across the region.