NCBA Signs Deal with Visa for Digital Payment Solutions Targeting SMEs

NCBA Group entered into a partnership deal with Visa to offer among other solutions, seamless digital payment for businesses in East Africa.

The deal dubbed Visa Spend Clarity for Enterprise was signed Wednesday at Serena Hotel.

Visa Spend Clarity is part of Visa Commercial Solutions’ suite of products and services for businesses of all sizes.

“This product enables our corporate, commercial and SME clients to manage their corporate spending from travel entertainment and even procurement more conveniently by providing reconciliation services and analytics to measure trends,” said Tirus Mwithiga, Group Director, Retail Banking Business at NCBA Bank Kenya.

The product, available both as a Web UI or Mobile Application for Android or IOS also offers businesses visibility and control over clients’ expenses and improves overhead reporting.

According to Mwithiga, enhanced data and reporting helps in resource optimization and better cash flow management. 

The tool can be customized as per the requirements, creating access at various levels, and enabling stakeholders in the corporate world with the relevant set of reports and data.

The data can also be integrated with ERP or extracted for upload into accounting platforms.

Expense management capability helps in digitizing the expense claim process, making it paperless with capabilities like OCR and receipt upload with multiple approval levels.

According to Imran Yusuf, Visa manager Sub Saharan Africa – NCBA opened the doors for the platform due to its resolute from its digital banking perspective.

“We are partnering with banks from a tech point. Kenya and NCBA are first partners in the whole of Sub-Saharan Africa,” said Imran Yusuf – Business Commercial Solutions, Sub-Saharan Africa.

The insights which the new platform presents will help businesses make more informed decisions about their spending.

“The partnership with NCBA is part of our commitment to help businesses of all sizes digitize their processes by offering convenient, secure and customizable tools,” said Visa Kenya Country Manager, Eva Ngigi-Sarwari.

In 2022, NCBA Group onboarded 146 new corporate customers, growing the gross loan book by Ksh.8 billion to Ksh.171 billion and deposits from Ksh.6 billion to Ksh.243 billion.

The division’s operating profit increased by 87% to Ksh.10.5 billion.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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