Kenswitch and TrendMAK have partnered together to roll out chip-based payment cards to Kenyan banks in a bid to move to a more secured platform.
This move will ensure Kenyans migrate from the magnetic stripped cards, which are believed to be unsecured. TrendMAK acclaim the cards will provide a safe and secured platform that meets global specifications.
#LocalEMVChipCardLaunch
Kenswitch partners with Transnational Bank and TrendMak Ltd to launch localised Chip-based Payment Cards @tnblkenya— Kenswitch (@Kenswitch_Ltd) March 11, 2015
“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,” Geoffrey Manene, CEO, TrendMAK explained during the launch event.
The emergence of the cards coincides at a time when Kenyan banks are migrating to higher-security payment cards courtesy of regulatory obligation. Translational bank –the first institution to adopt such cards- stressed the need for local financiers to support local enterprises.
#LocalEMVChipCardLaunch
Card to hasten adoption of the more secured cards from the fraud-prone magnetic stripped cards currently in use— Kenswitch (@Kenswitch_Ltd) March 11, 2015
“The enhanced security features on the card will go a long way to ensure that card-related frauds become a story of the past. It is also an assurance for all our customers of the safety of their funds as they access their accounts through our various channels,” Sammy Lang’at, Chief Executive, Translational Bank added.
Kenswitch is a registered limited company that’s set up by a consortium of banks under the National Payments Systems modernization and reform process of the Central Bank of Kenya.
Photo Credit: European Parliament Technology – DG ITEC via Compfight cc
