The Central Bank of Kenya (CBK) announces the granting of authority to Société Générale (SG) of France to open a Representative Office in Kenya. The authority was granted pursuant to Section 43 of the Banking Act following fulfillment of the stipulated authorisation requirements. Representative Offices of foreign banks serve as marketing and liaison offices for
Data from SWIFT shows that FIN traffic growth in East Africa has outperformed the total growth of SWIFT globally. In the year to date, total message traffic volumes grew by 20.1% versus 8.2% growth for SWIFT worldwide. This clearly illustrates the increasingly important role that East Africa plays in SWIFT’s global business. Data also shows
Direct Pay Online Group (DPO) is the first payment service provider (PSP) in Africa to receive the Payment Card Industry Data Security Standard (PCI DSS) Level 1 certification in 12 African countries. This comes after the successful completion of comprehensive audits in the Group’s global headquarters and all its other markets which include Kenya, Tanzania,
The leveraging on technology by banks exposes them to increased cyber risks. In this regard, the Central Bank of Kenya (CBK) has issued a Guidance Note on Cybersecurity that outlines the minimum requirements for banks to enhance their cyber security. The Guidance Note outlines the minimum requirements that institutions shall build upon in the development
The leveraging on technology by banks exposes them to increased cyber risks. In this regard, the Central Bank of Kenya (CBK) has issued a Guidance Note on Cybersecurity that outlines the minimum requirements for banks to enhance their cyber security. The Guidance Note outlines the minimum requirements that institutions shall build upon in the development
UnionPay International announced that it has deepened its cooperation with Kenya Commercial Bank (KCB), the largest bank in Kenya. First, the two will jointly issue the first UnionPay card with the mobile QuickPass function in Kenya this month, supporting the upgrade of the local payment industry through product enhancement. Second, with the official website of
UnionPay International announced that it has deepened its cooperation with Kenya Commercial Bank (KCB), the largest bank in Kenya. First, the two will jointly issue the first UnionPay card with the mobile QuickPass function in Kenya this month, supporting the upgrade of the local payment industry through product enhancement. Second, with the official website of
KCB Bank, East Africa’s oldest and largest commercial bank, and Planet Payment, Inc, a leading provider of international and multi-currency transaction services, announced the launch of Pay In Your Currency (PYC), Planet Payment’s dynamic currency conversion solution. This will mark the first launch of dynamic currency conversion in the region. The solution will be rolled
United Bank for Africa (UBA) announced the rollout of two Mastercard electronic payment solutions in order to deliver cashless solutions to all Kenyan’s. The UBA Debit Mastercard and UBA Mastercard Platinum cards will help displace cash, delivering quick, convenient and secure payment alternatives for all citizens. The introduction of the debit card solution will help
United Bank for Africa (UBA) announced the rollout of two Mastercard electronic payment solutions in order to deliver cashless solutions to all Kenyan’s. The UBA Debit Mastercard and UBA Mastercard Platinum cards will help displace cash, delivering quick, convenient and secure payment alternatives for all citizens. The introduction of the debit card solution will help
