KCB Bank and Planet Payment Announce Launch of Pay In Your Currency in Kenya

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 out to 500 merchants across Kenya.

With Pay in Your Currency, Kenyan merchants can cater to the influx of international tourists, by enabling international visitors using an eligible VISA or MasterCard to pay in their local currency, while merchants continue to receive settlement and reporting in Kenyan Shilling. Supporting more than 150 currencies, PYC helps retail, restaurant and hospitality merchants offer a more personalized service while improving the profitability of their business.

According to KCB Bank Director Retail Mrs. Annastacia Kimtai, the bank continues to embrace innovations that match local know-how with a global thinking hence easing the consumer journey. The effort streamlines KCB’s portfolio of merchants’ in e-payments and collections.

“We are excited to be the first in Kenya to launch Pay in Your Currency, a solution that enhances the payment experience for international tourists, while helping our merchants improve both customer service and profitability,” said KCB Bank Director Retail Mrs. Annastacia Kimtai.

“Planet Payment is thrilled to partner with KCB Bank, one of the oldest and most respected banks in the region, to be the first to bring dynamic currency conversion to Kenya. This innovative solution will help KCB merchants attract more customers, by making the international traveler feel at home,” said Jonathan Ellis, Managing Director, EMEA, at Planet Payment.