Dynamic Currency Conversion (DCC) sometimes referred to as Cardholder Preferred Currency (CPC) has been around for sometime, but there is a good deal of misunderstanding, hype, misinformation, opinion and mystery around its benefits and its detriments. DCC is a service that allows credit card holders to pay for goods and services internationally with their local
MoneyGram, one of the largest money transfer companies in the world, and Safaricom, the leading provider of converged communication solutions in Kenya,announced the launch of a new service that enables consumers in over 90 countries outside Kenya to send money directly to M-PESA, Kenya’s leading mobile money transfer solution. The new offering makes it easier,
KCB Group has picked three Islamic banking experts to run the Bank’s Sharia Advisory Committee, heightening the lender’s roll-out the Islamic banking services in Kenya. The scholars and religious leaders— Sheikh Ahmed M. Msallam, Sheikh Ibrahim Lethome and Dr. Ahmed Sheikh Abdualatif Osman—on Tuesday morning signed their contracts with KCB during the inauguration of the
Azimo, the online money transfer service, announced that customers across Europe can now send money instantly to the mobile “eWallets” of M-PESA’s 19 million subscribers in Kenya. Kenya boasts one of the highest global rates of mobile banking, with around 60% of all Kenyans sending or receiving money via their smartphone. Between January and February
Bharti Airtel has partnered with the Kenya Revenue Authority (KRA) to offer Kenyan citizens an opportunity to pay their taxes through Airtel Money. Through the partnership, Airtel will now allow customers across the country to inquire for KRA services, generate KRA payment reference number (PRN or an e-slip/invoice number) and make quick simple payments through
In the past 3 months, two juggernauts in Kenya have clashed over the introduction of SIM overlay technology into the market – Equity Bank Group (Bank) and Safaricom ltd (Telco). Safaricom Ltd. Is the largest Mobile Network Operator in Kenya (67.9 % market share) while Equity bank is the largest bank by customer base (8
Bharti Airtel announced plans to launch a cross border money transfer product in East Africa that will enable Airtel Money customers to send, receive and withdraw money from their Airtel Money wallets. The pilot phase will kick off on November 1st, 2014 with the first phase targeting – Kenya, Uganda, Tanzania and Rwanda. This follows
Equity Bank and American Express have announced the launch of the first American Express Cards in Kenya. Equity Bank now offers Kenyan consumers the Equity Bank American Express Green Card and the Equity Bank American Express Gold – both of which carry rich rewards and benefits. The launch builds upon Equity Bank’s reputation for offering
KCB Bank Group has selected NetGuardians, a Swiss -based firm, to further enhance its capacity to ensure data security and mitigate risk. Allowing the bank group to use NetGuardians’ NG|Screener software solution has already earned the confidence of banking clients around the world. NG|Screener uses smart behavioural analysis to monitor and analyse all user activities
Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has announced that with its technological assistance, Kenya Commercial Bank is now able to offer acceptance of contactless cards based on MasterCard PayPass technology. The certification process was completed in less than a month making the bank one
