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Kenya

Equity Bank scoops VISA top acquirer award

NAIROBI, Kenya, Dec 31 – Equity Bank has scooped the Visa Top Acquirer Award for pushing the highest Visa card volumes in 2018.  

Equity currently has 14,642 merchants with some of the most notable being Naivas, Tuskys, Oil Libya, Total Service Stations, the Intercontinental Hotel, Quickmart Supermarkets, Simba Corporation Limited, Kenya Airways, KWS, the Nairobi Hospital, Chandarana Supermarkets, Furniture Palace, Tamarind Hotel , Text Book Centre, among others.

Commenting on the award, Equity Bank’s Managing Director, Polycarp Igathe noted that the award was a result of the Bank’s contribution to a cashless economy.

“We are elated to receive the award, because it is evidence of our efforts towards the facilitation of cashless transactions, giving customers convenience and frictionless experience across the region by enhancing our card and payments processing services,” he said.

Over the last year, Equity Bank has made significant investments in its merchant acquiring infrastructure, which resulted in a 34 percent growth in the volumes being transacted by the Bank’s merchants, from Ksh. 40.3 billion in Q3 2017 to Ksh.54 billion, according to the Q3 2018 financial results.

In addition to Visa, Equity Bank issues MasterCard, China Union Pay, JCB and Diners Club.

The Bank is also an exclusive issuer of American Express Cards being the only Bank in Africa outside South Africa that issues Amex cards.

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