Verify-Cheque has launched a new cloud-based debt recovery platform aimed at helping Kenyan businesses tackle the rising problem of bounced cheques, which continue to disrupt billions of shillings in transactions across the country.
The rollout comes at a time when businesses are grappling with frequent payment failures. Data from the Central Bank of Kenya (CBK) shows that thousands of cheques are dishonoured every month, leading to delayed settlements, strained cash flows and increased financial pressure, especially for small and medium-sized enterprises (SMEs).
The company says the new platform marks a shift from its earlier paper-based model that operated between 1990 and 2009 across Africa. During that period, Verify-Cheque relied on manual processes and publication-based systems to support debt recovery linked to bounced cheques, achieving an average recovery rate of 62.3 per cent.
At the heart of the new system is an online subscriber portal that allows businesses to manage the entire recovery process from a single dashboard. Users can upload dishonoured cheque details, issue debtor notifications and submit cases for listing in the Register of Dishonoured Cheques.
Once submitted, debtors are given a 28-day window to settle outstanding amounts or raise disputes. If no resolution is reached within that period, the cheque details are listed in the register, creating visibility that may encourage repayment.
The platform also introduces real-time tracking tools, allowing businesses to monitor debtor responses, settlement progress and payment activity without relying on manual follow-ups.
In addition, the system provides analytics that help businesses track payment behaviour, identify repeat defaulters and assess recovery trends across their customer base.
To ease adoption, Verify-Cheque has introduced a subscription-based model. Businesses join by purchasing platform credits worth $100 (about Ksh 12,930), which are then used to access the register for $1 (Ksh 129.50) per search.
The company is also offering an introductory incentive where all dishonoured cheques submitted within the first 30 days of subscription will not attract any recovery commission.
Once payment is recovered, the affected business receives the full principal amount directly into its account. Verify-Cheque then issues a separate invoice for its standard 15 per cent recovery fee and removes the debtor’s details from the register.
The firm says the digital shift is meant to reduce delays, cut administrative costs and improve efficiency in debt recovery at a time when cheque usage remains significant in Kenya’s financial system, despite the growth of mobile money and other electronic payment channels.
With businesses still transacting hundreds of billions of shillings monthly through cheques, Verify-Cheque is betting on its cloud-based platform to offer a faster, more transparent way of recovering unpaid debts and strengthening cash flow stability.
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