This is an e-payment Financial Switch System (also referred to as EFT Switch Switching System). This e-payment system will enable Posta to transfer the following operations electronically on behalf of various stakeholders;
Electronic Agency Banking
Mobile Money Transfer
Card – Based Transactions
e-payments of e-commerce.
Currently Posta Pesa partners are: Coop Bank, National Bank, KCB and Credit Bank. Negotiations are ongoing with Barclays Bank, K-rep and several MFIs.
The transactions entail Cash Deposits, Cash Withdrawals and Balance Inquiries. Customers get convenience by banking with the nearest post office and getting the same customer service as good as the bank.
- Increased revenue – New Revenue Streams and Diversification of existing business.
- Convenience & Ease of Access – Banking service brought closer –No need to travel a long distance.
- Efficiency – Optimize Cash Management
- Flexible hours – 8.00 am to 5.00 pm.
- Real time – Transactions reflect immediately.
- Brand – Benefit from the Bank Expertise
- Cost – Reduced cost of Banking