KCB Launches Pepea Commuter Card To Ease Consumer Journey
KCB Group has launched an electronic commuter card that will be used by travellers to pay for their transport fare as well as conduct other transactions.
Besides transit, users will be able to use it at all point of sale terminals including retail stores, fueling and they can also make online payments. KCB Group on Monday kicked off the issuance of the Pepea Card which is also a MasterCard debit card, in partnership with over a dozen bus companies.
The Point Of Sale system under which Pepea is running is a standard digital device that is designed to read any EMV card. This means customers can also use all other cards to pay for fare, making the KCB proposition unique as most of the other systems are card specific.
The multi- functional transit debit card has embraced the emerging technology of the Near Field Communication (NFC) from the point of view of both the individual consumer and business interested in how the technology can make their life easier. Commuters will now be able to pay for their travels through the cashlite payment.
According to KCB Group CEO Joshua Oigara, “KCB has embarked on a venture to ease the consumer journey. Today, around 85% of all retail payment transactions are done with cash, which equates to 60% of retail transaction value globally.”
“Even though much of the world’s population has access to many different options for making payments other than cash, cash still persists. Cash takes time to get at, is riskier to carry, and by most estimates, cash costs society as much as 1.5% of GDP. “By embracing technology, we believe that brands will create a highly personalized dialogue, targeted to individual customers which will improve the customer journey, boost loyalty and yield positive results in terms of sales,” Added Oigara.
To use the card, the customer does not need to have an existing KCB account and can use it to make online payment, shop in a retail outlets, fuel, dine and during travel. The card can be used to make payment in over 35 million outlets worldwide and it is an EMV card hence giving consumers optimal security against fraud.
The card is part of KCB’s wider plan to bolster its financial inclusion agenda as it continues to roll out products that support KCB’s long-term strategy on the financial inclusion agenda and also support the seamless transition in the transport sector.
The venture into the cashlite economy is expected to ride on KCB’s recent full migration of all its debit cards to the new Europay, Mastercard and Visa (EMV) platform which is more secure and efficient. This enables KCB customers to use the debit cards on Points of Sale (POS) and make payments for various products.
Electronic payments, have been proven to boost economic growth, while advancing financial inclusion. It is for these reasons that countries around the world are working to make their payment systems less dependent on cash.
The transit MasterCard enabled debit card besides being used for transit, will also be used in any points-of-sale terminals to make payment for goods for online transactions. Commuters will also enjoy other banking services in KCB such as mobile banking, agency banking and credit card facilities.
The issue of the card comes in the wake of the government directive that all public service resort to cashlite payment system in all their transactions starting from December 1st 2014. The card has unique features that enable it to operate seamlessly through the Near Field Communication (NFC) technology platform. Commuters will also be able to load their cards through the KCB network through the more than 8,000 KCB Mtaani agents, KCB M-Benki, the over 185 KCB Branches as well as KCB ATMs regionally. Commuters will just be needed to tap their cards on the special machine and with that they get a physical/electronic receipt indicating the date, route and time of travel.
The card usage will make it easier for operators to manage their fleet and also reduce leakages which are associated with the current system of management.
The cashless payment system is poised to ensure that revenues are monitored efficiently. It will also increase the velocity of money and by that increase the multiplier effect hence enhancing higher growth rates in the public transport sector. The system seeks to boost Kenyan confidence in electronic transactions, e-commerce and online banking in the country.
KCB’s cashlite journey
KCB Group has been in the forefront to ensure the commuter cashlite initiative succeeds and has supported ongoing government initiatives to transform the public transport industry in Kenya. Mid this year, KCB partnered with the Kenya Bus Services and Modern Coast Bus Services to launch their individualized electronic cards— KBS Abiria Card and Modern Coast Card respectively. The cards operate seamlessly through the KCB/TapToPay Near Field Communication (NFC) technology platform.
This year’s successful migration of KCB cards to the new Europay, Master Card and Visa (EMV) technology platform enables our customers to securely and efficiently make payments using the new cards.