These new services include registration for ATM services, making ATM deposits, getting cash back at the point of sale (POS), topping up prepaid airtime, and initiating funds transfers. These services are in addition to existing uses such as balance enquiry, mini-statement, PIN change, and cash withdrawal.
Initially, Kenswitch catered for ATM transactions only. Point-of sale (POS) and mobile channels have since been added. Transaction sets on these channels have shown extensive growth over the past seven years, in line with Postilion's on-going enhancements and developments.
Kenswitch was one of Postilion's first clients in East Africa and Postilion has worked closely with its long-standing African reseller, EFTCorp, in supplying the payments platform to Kenswitch.
When Kenswitch went live on their Postilion platform seven years ago this month, it had three clients on the switch. Today, there are 23 financial institutions and three third-party acquirers on Kenswitch.
George Wainaina, the General Manager of Kenswitch, said the new services were making it possible for Kenswitch cardholders to perform multiple banking functions without having to queue at the branch.
"We recognize our customers' busy schedules and are making it possible for them to transact while they are on the move," said Wainaina.
Wainaina added that "the rolling out of the new services would not have been possible without the technology support provided by Postilion. Postilion's ease of use and its use of open systems technology have helped drive Kenswitch's dramatic growth over the past seven years."
"We are proud to be associated with a landmark institution such as Kenswitch. Over the years, we have worked together to grow both Kenswitch's and Postilion's business in East Africa. Not only did Postilion play a central role in the development of the payments industry in Kenya, but together with Kenswitch, we also enriched the day-to-day financial experiences of many end-users," added Deon van Biljon, GM and SVP, Postilion Africa.
Postilion drives major transaction switches and processors in numerous African countries, including the continent's largest economies: South Africa, Nigeria, and Kenya. Smaller regional switches, such as those in Zimbabwe, Tanzania and Uganda, also run on Postilion platforms.