Absa Bank Kenya partners with Visa to help ease payments for travel agents and businesses. Absa Bank Kenya and Visa have joined hands to introduce the Visa Commercial Choice Programme.
This new initiative offers a “Corporate Card” solution tailored for members of the Kenya Association of Travel Agents (KATA). It aims to provide enhanced flexibility and better cash flow management for these members.
Absa Bank Kenya Partners With Visa
This collaboration between Absa Bank Kenya and Visa will offer travel agents enhanced payment solutions for their B2B transactions. It aims to improve working capital management, streamline operations, and enhance supplier management capabilities for these agents.
This announcement comes after an eight-month partnership between the two companies, during which they introduced the Absa Mobi Tap. This innovative payment solution allows small businesses to accept card payments from clients using Android smartphones.
With this new development, travel agents will benefit from Absa Bank’s support in making seamless payments in either Kenyan Shillings or US dollars. They will also have access to the Visa Commercial Pay Virtual Card Platform, enabling them to automate booking processes and utilize advanced tools for data management and reconciliation.
Additionally, businesses will gain greater visibility and control over expenses and payments initiated by their employees.
The Upgraded Absa Corporate Visa Card
The upgraded Absa Corporate Visa Card includes new features and flexibility to address the challenges faced by businesses of all sizes. Moses Muthui, Absa Bank’s consumer banking director, expressed that the collaboration aims to empower businesses and drive 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 further added.
Absa Bank Kenya Collaborates With Huawei
In February 2024, Absa Bank Kenya teamed up with Huawei to tackle traditional networking challenges and promote “digital enablement” through an advanced Software-Defined Wide Area Network (SD-WAN) solution.
However, back in October 2023, reports revealed that the bank had experienced losses of KSh 107.7 million ($716,566) due to fraud in 2022. Despite this setback, internal interventions aimed at reducing fraud risks led to the recovery of KSh 59.1 million ($393,213).
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