Premier Bank rows on wearable payment to revolutionise digital banking

Premier Bank has launched an omnichannel digital banking platform and Kenya's first wearable payment solution, signaling its intent to capture the nation's mobile-first consumer market while carving out a niche as the country's first Shari'ah-compliant digital bank.

The move, in partnership with MasterCard, underscores a broader push among Kenyan lenders to enhance financial inclusion and adapt to evolving digital payment trends.

The bank introduced Premier Connect, a Shari'ah-compliant digital omni-channel banking platform, and Premier Tap, a wearable payment solution.

"This launch reflects our brand promise of 'New Beginnings', empowering customers with choice, flexibility, and control," Premier Bank CEO Osman Dualle said, adding, "Through our partnership with MasterCard, we're not just offering technology. We're delivering convenience, accessibility, and a bold step forward for financial inclusion in Kenya."

Premier Connect is designed to enable customers to open accounts remotely, make real-time payments across various channels, securely control cards, and access treasury and foreign exchange solutions.

The bank stated that Premier Connect positions it as Kenya's first Shari'ah-compliant digital bank, aiming to bridge convenience with Islamic financial principles.

Premier Tap, an exclusive collaboration with MasterCard, facilitates contactless transactions through NFC-enabled smartwatches, rings, key fobs, and other wearables.

The solution incorporates MasterCard's security features, including tokenization and encryption, to safeguard transactions, eliminating the need for physical cash or cards.

"At MasterCard, we are committed to driving financial inclusion and providing innovative payment solutions that meet the changing needs of consumers," said Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at MasterCard.

According to him, premier tap is a testament to the bank's shared vision of making digital payments accessible, stylish, and secure.

Premier Bank stated that the launch marks a significant milestone in Kenya's journey toward a digitally inclusive financial ecosystem.

Premier Tap is now available across all Premier Bank branches and through the My Premier App.