By Edna Mwende
Visa has collaborated with KCB Bank Kenya and the Boda Boda Safety Association of Kenya (BAK), a motorcycle riders lobby group, to digitize payments for the motorcycle transport operators.
The free mobile payment solution is expected to accelerate safe digital payments via mobile phone with the funds going directly to their bank accounts.
According to a news report by Business Daily, the initiative will kick off with a three-month pilot in Nairobi using 100 operators before a national roll-out
“We are looking at helping boda-boda operators enjoy banking services like other Kenyans while enhancing the safety of their money as well as their own security,” said KCB Retail Banking Director Anastacia Kimtai as quoted by the Business Daily.
Ms. Kimtai continued to say that this is the best way to restore integrity in boda boda operations where riders are recognised for their contributions towards building the national economy.
Visa Country Manager Victor Ndlovu on the other hand said that their task is to build products that enhance the security of riders as well as the safety of passengers and at the same time enhance financial inclusion via use of technology.
The news article by the local daily states that to access the service, boda boda riders must open a KCB account and will be given a QR code that each will use to deposit money into one’s account. The rider will then receive a message on one’s mobile phone confirming payment.
The BAK said the deal would also cover crowdsourcing of riders’ gear where Visa and KCB will settle half of the costs with operators paying the rest.
Visa mobile is now in Egypt, Ghana, India, Kazakhstan, Kenya, Nigeria, Rwanda and Tanzania. It plans to launch in Uganda, Zambia and other African countries.