NOTTINGHAM, England--(BUSINESS WIRE)--Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has announced that with its technological assistance, Kenya Commercial Bank is now able to offer acceptance of contactless cards based on MasterCard PayPass technology. The certification process was completed in less than a month making the bank one of the most agile in Kenya and the second in the country to do so.
As one of the largest banks in the country, Kenya Commercial Bank was chosen to complete the certification by the government as part of a large-scale project to implement contactless technology in the region. The bank, which is already a Principal Member of MasterCard, completed the acquiring certification in August 2014 and is planning to undergo the issuing certification process in the near future. The bank also plans to become certified in Visa payWave for both issuing and acquiring, JCB and UnionPay.
Kenya Commercial Bank has an extensive network of more than 170 branches and offices across the country. In 2007, the bank implemented a strategy to make banking more efficient and convenient for its customers, and it continues to invest in technological solutions to implement cutting-edge products and services that will make their customers’ lives easier. The bank’s commitment to providing its customers with innovative card products, serves to strengthen its position as one of the most advanced banks in the region.
“As part of our ongoing strategy to make banking easier and more convenient for our customers, we recently launched an in-house processing centre built on TranzWare products from Compass Plus, which has enabled us to provide our customers with innovative products and services and reduce our product development time, allowing us to bring new products to the market quicker,” said Avi Mitra, Group Chief Information Officer at Kenya Commercial Bank. “Due to the platform’s advanced capabilities and by working closely with the specialists from Compass Plus, we are pleased to announce that we are now able to accept MasterCard PayPass cards. The successful partnership between Kenya Commercial Bank and Compass Plus enables us to look to the future with confidence and build long-term plans based on our collaboration.”
About Kenya Commercial Bank:
Kenya Commercial Bank is one of the largest banks in the country, with more than 170 branches, making it the largest banking network in the region. The Kenyan Government owns 17.74% of the bank. Since 2004, all of the branches in Kenya have been rebranded as part of a wider corporate branding exercise. KCB has partnered with Pesa Point to increase the number of ATM points where customers can access their funds.
About Compass Plus:
Compass Plus provides comprehensive, fully integrated and flexible payments software and services that help financial institutions meet rapidly changing market demands. Our diverse customer base spans over retail banks, processing centres, national switches and personalization centres in countries across Europe, Asia, Africa, the Middle East, North and South America. With twenty five years’ experience, Compass Plus helps build and manage all-scale electronic payment systems that generate new revenues and improve profits for its customers.