Kenya Power and Stanbic Bank launches post paid electricity bill management for business customers
Kenya Power’s commercial customers will now be able to better manage and settle their post-paid power bills anywhere and anytime thanks to an online payment solution developed by Stanbic Bank.
Dubbed Corporate Pay, the solution enables medium to large commercial customers to manage and have oversight of all their post-paid electricity bills. This is especially relevant for customers with multiple premises and branches. The platform enables the clients to consolidate due amounts from multiple accounts in order to generate one e-slip for single payment with real time credit to the multiple accounts.
Joe Alaro, Head Transactional Products and Services, Stanbic Bank Kenya, said Corporate Pay has been designed to help businesses and institutions better manage their accounts and minimise disruptions to their operations. Manual management of multiple accounts often leads to late or missed payments and subsequent power disconnections that impact negatively on productivity.
In addition, the bank also offers clients multiple payment platforms accessible to both Stanbic Bank customers and customers of other banks at their convenience i.e. Mpesa, Online, RTGS, cash or Cheque deposits into the Kenya Power account.
“In today’s environment where cost management is a high priority, it is our aspiration to help businesses significantly improve their operational and cost efficiency by automating their payment processes using a wide range of digital payment options.” he added.
“Our goal is to offer quality electricity supply to meet demands of personal as well as corporate and industrial clients. The roll out of Corporate Pay in partnership with Stanbic Bank is a welcome development as this will facilitate convenient management of bills for our customers and enable operational efficiency,” said Harun Karisa, Kenya Power’s Acting General Manager for finance.
“We are committed to developing tailor made financial products and services that help clients across different platforms to manage their operations conveniently and securely,” added Mr Alaro.