KCB signs multi-currency usage deal

The Kenya Commercial Bank (KCB) has sealed a deal with Planet Payment, Inc. – a leading provider in international and multi-currency transaction services – to launch Pay-In-Your-Currency (PYC), which is a multi-currency conversion solutions.

The deal will see the Bank improve on its multi-currency transactions making it the first of its kind in the region. KCB provide local merchants with an innovative way to cater to international payments – by allowing the visitors to use a range of 100 currencies using eligible debit or credit cards.

According to KCB Director Retail Anastacia Kimtai, the Bank continue 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.

The payment suite will enable the merchants attract more international clientele by offering a customized payment experience. This will reduce processing costs on foreign transactions, while continuing to receive settlement and reporting in local currency, as they do today.

“We pride ourselves on offering customer-centric payment solutions that both merchants and their customers will appreciate and value. We look forward to this exciting phase as we provide traders with the best tailored solutions that will improve their business productivity,” she added.

Jonathan Ellis, Managing Director, EMEA, at Planet Payment noted that, this strategic partnership with KCB expands their global reach through launching the solution in Kenya. The key milestone brings Kenya at par with other developed countries where merchants and customers have embraced cashlite solutions.

KCB will leverage on this international payment expertise to facilitate payment processing across the world. The Bank continue to drive its cashlite agenda while empowering business to maximize on profits and efficiency.