Deal for payment system puts Kenya 'at global e-commerce centre'

Jan 22, 2010

It has been claimed that the previously announced payment portal deal between I&M Bank and Visa has pushed Kenya right into the centre of the world of electronic e-commerce.

This is according to a piece in Business Daily Africa on January 21st, which suggests that the partnership will help Kenya's e-entrepreneurs expand their global sales capabilities.

It will allow web users in the country to make online purchases using credit and debit cards using local currency, rather than an offshore system that applies conversion fees.

The article went on to claim that the success of the e-commerce partnership in Kenya will be dependent on two major factors – the development of delivery mechanisms and the reliability of payment systems.

Moreover, the piece added that key industry figures "need to start implementing an effective mapping system that will enable the door to door deliveries that are so key to e-commerce's success".

I&M Bank offers a number of financial services for internet users - such as its Infomail banking service, which allows account holders to receive information about their balance and transactions via email.