The Kenya Commercial Bank has partnered Modern Coast for its cashless payment card that will allow commuters to load sh600 as minimal amount and sh140,000 maximum for bus fare in alignment with the government policy to ban cash fares in public vehicles according to a report by Business Daily.
KCB is targeting almost nearly 40,000 travelers using the fleet monthly with the company operating Kenya, Uganda and Tanzania. The cards supplied by MasterCard are tap-to-pay enabling ease in payments in the same breath allowing commuters access other KCB services, including agency banking and credit facilities.
The cards will also be open to use in other PSVs but Modern Coast buses. Once the commuter has paid using the card, they will receive an electronic ticket indicating the date, route and time of travel as well as the name of the supervisor and details of the card.
Provision of the receipt is one of the regulations to be met according to National Transport and Safety Authority in the cashless project to be rolled out countrywide by July. According to the BusinessDaily, Modern Coast MD Haroon Butt said the company will meet transaction costs in payments so commuters will not incur extra charges.