PCK invests Sh80m in electronic payment system

July 26, 2013
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The corporation plans to increase its revenue targets from Sh5 billion to Sh20 billion in the next three years. PHOTO/ http://www.posta.co.ke/
The corporation plans to increase its revenue targets from Sh5 billion to Sh20 billion in the next three years. PHOTO/ http://www.posta.co.ke/

, NAIROBI, Kenya, Jul 26 – The Postal Corporation of Kenya (PCK) has invested Sh80 million in rolling out a national electronic payment system that will see financial institutions share payment infrastructure.

The e-payment system will enable the corporation transact several operations electronically on behalf of various stakeholders that include electronic agency banking, mobile money transfers, card-based transactions, e-commerce, online disbursements in agency services, as well as e-payment for utility bills.

Postmaster General Enock Kinara says the technology offers an array of infinite transaction possibilities, from mobile wallets, credit and debit cards to Unstructured Supplementary Service Data.

“This will create a shared infrastructure and with Central Bank of Kenya’s planned National Payment System integration. We are better placed to offer the required platform,” he added.

He said the corporation has already signed agreements with seven major banks to use its electronic payment where it serves as an agent of the financial institutions.

“Some of its partners that are set to benefit include banks, money transfer service providers, micro-finance institutions, utility payments and mobile money transactions amongst others,” he said.

Kinara said the corporation is also seeking approval from the Communications Commission of Kenya to provide wireless Internet service in 93 offices country, 22 of which will be new offices.

The corporation plans to increase its revenue targets from Sh5 billion to Sh20 billion in the next three years in order to meet the targets of its new 2013-2016 Corporate Strategic Plan.

“We require a paradigm shift in the way we conduct our business. It will no longer be business as usual if we are to achieve our set targets and move to the next level as expected by our shareholders,” Kinara added.

“This will create a shared infrastructure and with Central Bank of Kenya’s planned National Payment System integration, we are better placed to offer the required platform,” he adds.

Other key strategic areas that the corporation has focused on include change in PCK’s corporate image and culture to a more vibrant equally competing commercial entity, investment in the human resource capacity through trainings, formation of a comprehensive customer service charter, as well as the formation of a risk management division that will oversee and handle any unforeseen circumstances.

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