Coop Bank, VISA partner in digital innovation of payment

Chad Pollock General Manager for East Africa, Visa. [Winfrey Owino, Standard]

The Co-operative Bank of Kenya has partnered with Visa, in a project aimed at evolving mode of payment in the country.

Together, they have launched a Debit Card, a Credit Card and a Pre-Paid Business Card that allows clients to enjoy credit with no interest, among other benefits.

In his speech during the launch, Co-op Bank’s Acting Director of Retail Banking Moses Gitau is one of the lender’s highlights in its journey of digital transformation.

“This event marks a major milestone in Co-op bank’s digital transformation journey in which the bank has invested heavily including the successful upgrade of its core banking system in 2023 at a cost of over Kes 5Billion, to drive innovation and support businesses in their digitization efforts by bringing together the best in banking and technology,” he said.

With the cards, customers can separate business from personal expenses, make payments from their business accounts, access interest-free credit to manage cash flow, digitize and track office and travel expenses while enjoying business-centric discounts from selected Visa merchants globally.

Visa East Africa Vice President and General Manager Chad Pollock said “This launch marks a significant milestone in our partnership with Co-op bank and our ongoing efforts to support small and medium-sized enterprises (SMEs) and commercial enterprises in their journey towards digital transformation. Digital payments are not just convenient; they are a catalyst for business growth and economic development. In today's fast-paced digital world, businesses need to adapt to stay competitive, and digital payments play a crucial role in this transformation”

The cards, which can be used both locally and internationally, have been designed to transform how SMEs, Cooperative Societies and Corporate Institutions manage their expenses, empower employees and optimize financial control.

The cards are available to existing Co-op Bank customers and non-customers, and can be obtained from any Co-op Bank branch countrywide.