Kenya Commercial Bank (KCB) has signed an agreement with pesapal limited liability company. With this agreement, KCB will be able to access digital payment infrastructure that serves many small businesses in Kenya, thereby receiving innovative payment solutions.
With this investment , KCB is positioning itself to become a major digital financial service provider, as Pesapal is a licensed service provider under the Central Bank of Kenya.
In addition, KCB will benefit from point of sale (POS) terminals together with e-commerce checkout solutions that are widely used by small businesses, which have been part of the services offered by Pesapal.
By blending Pesapal’s services, KCB will now be able to provide more financial support to small and medium businesses by helping them manage sales and payments, which will enable them to run their businesses efficiently.
Additionally, with this partnership, innovation in mobile payment, online transactions, and financial inclusion is imminent, especially in underserved markets.
Pesapal, known for its innovative payment solutions across retail, will complement KCB’s existing digital offerings, which will enhance customer experience, drive financial inclusion, and support the group’s long-term growth in digital finance.
“This investment aligns with our ambition to scale up our digital services and offer seamless financial services to our customers,” said Bonnie Okumu, Group General Counsel and Company Secretary at KCB Group PLC.
