UBA And Cellulant Kenya Partner To Accelerate Adoption Of Cashless Payments

 

Chike Isiuwe UBA Kenya CEO with Faith Nkatha Cellulant Country Manager

By Citizen Reporter For Citizen Digital

United Bank of Africa and Pan-African payments company Cellulant have partnered to provide payments platform to accelerate adoption of cashless payments in Kenya.

The digital solution is set to help businesses aggregate payments in a single view which will assist in efficient collection, reconciliation and quick decision making.

“Organizations are increasingly going cashless; from global businesses such as airlines to local restaurants, or instagram businesses and schools,” remarked Faith Nkatha, Country Manager, Cellulant Kenya at a UBA Kenya and Cellulant customer launch event on Tuesday, May 10.

Ms. Nkatha pointed out that how organizations and businesses make and collect payments has radically shifted in the last two or three years.

“Students or parents queuing to make payments at the bursar, churches giving envelopes to collect offerings, restaurants receiving cash payments or real estate agents going round to collect rent; all these are quickly becoming outdated as collection methods,” she said. 

Mr Chike Isiuwe, The CEO, UBA Kenya said: “Customer experience remains our key focus and this partnership ensures that we constantly provide easy, efficient and timely innovative solutions to meet the ever changing needs of our customers. This solution will change how individuals make payment and how merchants and institutions collect as it eases the process while also reducing transaction costs.”

The event brought together some 30 institutions across the FMCG, insurance, education, diplomatic and the public sectors, showcasing the new digital platform that will provide a seamless way to make payments, manage collections and reconciliations.

The volume of global cashless transactions is set to grow by more than 80% between 2020 and 2025. This is according to the Payments 2025 & Beyond Report by PWC.

In recent years, individuals and businesses alike have adopted digital payments reshaping the entire payments infrastructure.  

Cellulant, founded in 2003, has an extensive payments infrastructure partnering with 46 mobile-money operators in Africa, 211 banks including UBA Group and serves 35 African countries with a physical presence in 18. 

UBA Kenya, which started operations in Kenya in October 2009 with a business focus on local and international Corporates, SME’s, Public and Private Institutions, has over the years grown its footprint to 5 branches across the country with recently opened branches in Nakuru and Mombasa.