KCB Group today sealed a pact with Galana Oil – trading as Delta – that will see the bank provide a card payment solution to all its stations countrywide. KCB has installed point of sale terminals in 12 outlets, which have recorded significant revenue increase.
“The focus is to achieve a significant and sustainable reduction in end-to-end transaction costs in accessing the retail formal financial system,” said KCB Head of Channels, Dennis Njau during the launch of the partnership at the new Delta station on the Eastern Bypass near Ruiru. “We are keen to support businesses as they scale up. We have in place a model to enhance operational competencies, revenue generation and drive greater efficiencies across the markets.”
Galana Oil Head of Sales & Marketing, James Nginya said KCB has been a valued business partner. “In KCB we have found a bank that shares in our vision and supports our long-term growth, “he added.
The benefits of going cash lite are well known to users of electronic cards. Amendments to the Banking Act in the 2009 Finance Bill, which was passed into law, allowed banks to use small shops, petrol stations, pharmacies and other retail outlets as agents. The move has shown dramatic impact on improving access to financial services in Kenya.
The lender has embarked on a venture to ease the consumer journey through innovative business solutions. KCB has been in the frontline to embolden its involvement in Kenya’s cashlite economy through merchant’s partnerships.
Leave a comment