Kenswitch has rolled out chip-bases payment cards in a move that will boost banks’ efforts to migrate from the unsecure magnetic stripped cards as it will hasten the adoption of more secure cards.
The platform which offers services to customers from various banks in the Kenyan market partnered Trendmak, a local IT company for the roll out.
“A lot has been put in place to ensure the ecosystem is ready to accept chip-based card transactions in terms of upgrading the ATM and PoS hardware and software for driving these terminals. The card is local and cost effective targeting the local market,” said Kenswitch managing director George Wainaina during the card launch held at Transnational Bank headquarters in Nairobi.
Trendmak assured that the cards will provide safe, secure cards that met global specifications.
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Speaking during the launch, Trendmak Chief Executive Officer, Geoffrey Manene said this will be the first local private label EMVCO chip card. “We assure our clients that the quality and security of its products are not compromised. In this regard we have carefully vetted and engaged credible international suppliers as partners” he added.
Transnational bank was the first bank to adopt the new cards, and emphasized on the need to support local enterprises.
“We do not need to look beyond Kenya for solutions when within our motherland lies the potential for even greater and more specialized solutions,” said its chief executive Sammy Lang’at during the launch.
The new cards can be used at all 1300 Kenswitch ATMs in 110 towns in the country.
