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Angela Mwirigi, Director of Digital Financial Services at KCB Group, and Chad Pollock, Vice President and General Manager for East Africa at Visa
KCB Bank Kenya in partnership with Visa, a global leader in digital payments have launched a Business Credit Card solution to assist SME’s to better manage cashflow, control expenses, and conveniently pay for day-to-day business needs.
The business-focused credit solution will offer access to working capital through a revolving credit line, offering up to 45 days’ interest-free credit.
Additionally, customers will have the option to access either a Kenya Shillings (KES) card or a US Dollar (USD) card, along with enhanced expense management capabilities with employee cards and monthly reconciliation statements.
Other benefits include access to Visa commercial offers, providing SMEs with discounts that support cost savings on business spend as they advance their digital transformation initiatives.
This solution is part of the Bank’s digital and innovation strategy which is increasingly offering seamless payment solutions to cater for the ever-changing consumer needs, positioning SMEs to streamline operations and scale more sustainably.
Speaking during the event, KCB Bank Director, Retail Banking, Jane Isiaho said: “SMEs remain the backbone of the Kenyan economy yet access to finance remains one of the greatest barriers to their growth.
Entrepreneurs normally operate on a very tight cashflow with limited resources for their businesses, poor visibility on business spend, difficulty separating personal and business expenses, time-consuming reconciliation, lack of loan flexibility and weak expense controls.
By offering this solution, we will be able to enable them to secure financing for their business and operational expenses, manage costs effectively and meet their various business targets.”
Among other benefits include seamless business payments, clear separation between personal and business expenses, employee expense control with customized spending limits, simplified reconciliation and exclusive merchant offers such as global merchant discounts and business-focused offers.
Visa East Africa Vice-President and General Manager, Chad Pollock said, “By offering a faster and efficient payment system to our SME’s customer base, we are able to solve their business needs, enabling them to prosper and run their business efficiently with limited downtime.This enables the development of the business and the Kenyan economy.”
This partnership builds on KCB’s ongoing investments to empower customers and merchants by strengthening digital platforms and ensuring a robust payment support system.
