- Absa Bank Kenya and Visa have partnered to launch the Visa Commercial Choice Programme, a new “Corporate Card” solution for Kenya Association of Travel Agents (KATA) members that provides flexibility and improved cash flow management.
- This partnership will provide travel agents with improved payment solutions for B2B transactions, more efficient working capital management, streamlined operations, and improved supplier management capabilities.
- This news follows an eight-month collaboration between the two businesses to introduce the Absa Mobi Tap — a first-to-market payment solution — that enables small businesses to take card payments from clients using Android smartphones.
Additionally, with this development, travel agents will have the support of Absa Bank to make seamless payments in Kenyan Shillings or US dollars.
They can also use the Visa Commercial Pay Virtual Card Platform to automate booking processes and access improved tools for data management and reconciling while businesses will also get more visibility and control over expenses and payments initiated by their employees.
Furthermore, the improved Absa Corporate Visa Card includes new features and flexibility to address the challenges businesses of all sizes face.
Moses Muthui, Absa Bank's consumer banking director, acknowledged that the collaboration between Absa Bank Kenya, Visa, and the Kenya Association of Travel Agents aims to empower businesses and accelerate digital inclusion through smarter and more integrated payment solutions.
“We have been speaking to our clients and professionals from different sectors to understand their specific needs, and this new solution is just one among many others that we are rolling out for our customers in various disciplines,” he added.
Absa Bank Kenya partnered with Huawei in February 2024 to overcome traditional networking limitations and encourage "digital enablement" for an advanced Software-Defined Wide Area Network (SD-WAN) solution.
Meanwhile, reports in October 2023 show that the bank admitted to losing KSh 107.7 million ($716,566) to fraud in 2022, while internal fraud risk reduction interventions resulted in a recovery of KSh 59.1 million ($393,213).
