Cellulant and UBA Kenya have launched a new digital platform that will provide a seamless way to make payments and manage collections.
The digital solution is set to help businesses aggregate payments in a single view which will assist in efficient collection, reconciliation and quick decision making.
In recent years, individuals and businesses alike have adopted digital payments reshaping the entire payments infrastructure.
“Organizations are increasingly going cashless; from global businesses such as airlines to local restaurants, or Instagram businesses and schools,” remarked Faith Nkatha, Country Manager, Cellulant Kenya at a UBA Kenya and Cellulant customer launch event on Tuesday.
“How organizations and businesses make and collect payments has radically shifted in the last two or three years. Students or parents queuing to make payments at the bursar, churches giving envelopes to collect offerings, restaurants receiving cash payments or real estate agents going round to collect rent; all these are quickly becoming outdated as collection methods,” said Nkatha.
According to UBA Kenya CEO Chike Isiuwe, This solution will change how individuals make payment and how merchants and institutions collect as it eases the process while also reducing transaction costs,” said.
“Digitisation plays a pivotal role in the financial lives of Kenyans today and the platform aligns with current customer payment behaviors and is expected to spur growth for local businesses, contributing positively to the expansion of the country’s economy,” said Isiuwe.
UBA Kenya started operations in Kenya in October 2009 with a business focus on local and international Corporates, SMEs, and Public and Private Institutions. Over the years the Bank has grown its footprint to 5 branches across the country with recently opened branches in Nakuru and Mombasa.
Cellulant, founded in 2003, has an extensive payments infrastructure partnering with 46 mobile-money operators in Africa, and 211 banks including UBA Group and serves 35 African countries with a physical presence in 18.