KCB Bank Kenya and Airtel Money Kenya Limited have introduced an interoperability partnership that enables Airtel Money customers to make payments directly to KCB merchants via the Lipa Na KCB service. This move enhances Kenya’s payment infrastructure, providing a more secure, fast, and efficient system that aligns with the National Payments Strategy 2022–2025.
Annastacia Kimtai, Managing Director of KCB Bank Kenya, emphasized that the initiative aligns with the bank’s goal of building an effective payments ecosystem, aimed at accelerating financial inclusion through a new business model focused on high volume, low-value transactions.
“Reaching critical mass will require mobile money ecosystems to become more dynamic and productive, and such a move will enable us to scale our offering while giving customers the freedom to empower themselves,” said Kimtai.
The partnership is viewed as a significant step in advancing mobile money interoperability in Kenya. Airtel Money users will now enjoy seamless transactions without needing to transfer funds across different networks, making mobile payments simpler and more affordable in line with Airtel Money’s commitment to cost-effective solutions.
“We are thrilled about our partnership with KCB, which allows our customers to seamlessly transact through their Airtel Money wallets. This collaboration underscores Airtel Money’s ongoing commitment to improving customer experience and promoting financial inclusion through innovative partnerships.
With the integration of Lipa na KCB into Airtel Money’s ecosystem, customers now have greater flexibility and convenience in paying for goods and services,” said Anne Kinuthia-Otieno, Managing Director of Airtel Money.
KCB’s non-branch digital solutions play a key role in the bank’s overall performance, with 99% of transactions being conducted through these channels. The value of digital transactions increased by 31% year-on-year, reaching $49.61 billion by the end of 2023. The partnership is expected to boost the use of digital payment channels further.
This collaboration guarantees customers lower transaction fees when using Airtel Money for KCB paybills, staying true to Airtel Money’s promise of offering Kenya’s most affordable mobile money rates.
Annastacia Kimtai, Managing Director of KCB Bank Kenya, emphasized that the initiative aligns with the bank’s goal of building an effective payments ecosystem, aimed at accelerating financial inclusion through a new business model focused on high volume, low-value transactions.
“Reaching critical mass will require mobile money ecosystems to become more dynamic and productive, and such a move will enable us to scale our offering while giving customers the freedom to empower themselves,” said Kimtai.
The partnership is viewed as a significant step in advancing mobile money interoperability in Kenya. Airtel Money users will now enjoy seamless transactions without needing to transfer funds across different networks, making mobile payments simpler and more affordable in line with Airtel Money’s commitment to cost-effective solutions.
“We are thrilled about our partnership with KCB, which allows our customers to seamlessly transact through their Airtel Money wallets. This collaboration underscores Airtel Money’s ongoing commitment to improving customer experience and promoting financial inclusion through innovative partnerships.
With the integration of Lipa na KCB into Airtel Money’s ecosystem, customers now have greater flexibility and convenience in paying for goods and services,” said Anne Kinuthia-Otieno, Managing Director of Airtel Money.
KCB’s non-branch digital solutions play a key role in the bank’s overall performance, with 99% of transactions being conducted through these channels. The value of digital transactions increased by 31% year-on-year, reaching $49.61 billion by the end of 2023. The partnership is expected to boost the use of digital payment channels further.
This collaboration guarantees customers lower transaction fees when using Airtel Money for KCB paybills, staying true to Airtel Money’s promise of offering Kenya’s most affordable mobile money rates.