Visa is set to boost its financial inclusion drive and improve electronic payments accessibility through global technology in Kenya, to enable more customers in the country to send and receive money securely and easily.
During a visit to Kenya, Visa Central and Eastern Europe, Middle East and Africa (CEMEA), general manager, Kamran Siddiqi was quoted by Citizen News as saying that the company will support the government’s mandate of migrating all prepaid, debit and credit cards from magnetic stripe to chip and PIN by 31 March 2014.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The company has plans to display Visa Risk Management and Visa Advanced Authorization tools, in order to enable banks in the country to mitigate fraud risks related with each transaction.
"We want to ensure that Visa offers a familiar and easy payment platform to support and grow tourism in the region," Saddiqi said.
A report by Visa titled "Tourism Outlook, Kenya" stated that from earlier this year, international Visa cardholders tourism spending increased from KES37.5bn ($442m) in 2011 to KES40.7bn ($479.8m) in 2012.
According to the report, total transactions rose 7.2% from KES186.89m ($2.2m) to KES203.8m ($2.4m).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataVisa has also recently partnered with the East Africa Tourism Platform in a move to drive tourism in the region.
