KCB Launches Online Payment Solution Aimed at Tourism

Sept. 10, 2010

Kenya Commercial Bank (KCB) has launched an online payment solution targeting the tourism sector as e-commerce begins to assert itself in the East African nation. The financial institution said the solution will make online payments easier for service providers to manage. The tourism industry is the largest consumer of e-commerce globally, with service providers like hotels, tour operators, museums and airlines embracing it. “Tourism has a big value chain and this payment solution will help players secure payments,” said Mr. Peter Munyiri, KCB’s deputy CEO, adding that the product will help the sector, and the country at large, embrace e-commerce. “This move not only addresses our core strategy needs as the region’s largest bank, but it is in keeping with the Kenyan government’s overall plan to develop a credible e-commerce culture,” said Munyiri.