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Credit Bank and Visa Partner to Launch Multi-Currency Prepaid Card

NAIROBI, Kenya, Nov 19-Credit Bank Plc in partnership with Visa today announced the launch of a Multi-Currency Prepaid Card, aimed at providing consumers with an excellent alternative banking card that allows safe and secure seamless electronic transactions.  

Credit Bank’s Konnect Prepaid Card will be a contactless Touch and Go card that can be used to shop, dine, fuel, and pay for services anywhere in the world. The card is Chip and PIN – enabled for secure online transactions. It is ideal for everyday payments like utility payments, as well as when travelling. 

Speaking at the launch, Credit Bank Director, Jack Ngare noted the launch as being aimed at increasing financial freedom for the banked, unbanked and under-banked, “It is our aim to provide our customers with the control and confidence they need to manage their money smartly. Membership to the Visa network, will allow the card holders to use it worldwide for payments and withdrawals, transact safely online and at ATMs.”

Konnect Prepaid Card will be available in 2 types, the Classic Card best suited for local transactions and can be topped up with the Kenyan Shilling, and the Platinum Card which is multi-currency and can be loaded with up to 4 currencies KES, USD, GBP and EUR.

Ngare continued, “The prepaid card does not require a bank account. It is reloadable at will, either via Mobile Banking, Mpesa, Money Transfer, Cheques or over the counter. With digital wallets quickly taking over traditional banking, the Konnect Prepaid Card will appeal to the many Kenyans who have embraced online purchase to secure their payments – independent of their bank accounts, those hesitant to link their bank accounts to various online platforms, those looking to manage a budget with no risk of overdraft, or travelers looking for an internationally accepted card.”

Eva Ngigi-Sarwari, the Country Lead for Visa in Kenya, echoed these sentiments and remarked that the move to partner with Credit Bank will open new doors for Kenyan shoppers who opt to make use of the prepaid card.

“The Konnect Prepaid card is definitely a game changer for Credit Bank Customers, as it will open up the global market for customers when they travel giving them access to over 61 million merchants in over 200 countries through Visa’s global network.”

She added that the cards possess state of the art security features to ensure the safety on Credit Bank customers when they shop online.

“The cashless payments will not only be safe and reliable, but they will also be secured with dynamic EMV® Chip security technology that has already proven to drastically reduce counterfeit fraud.”

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Credit Bank CEO, Betty Korir, noted that the launch adds another feather in the cap of the bank that recently received ISO 90001:2015 certification, effectively becoming one of the few financial services organizations to receive the certification. 

She commented, “Such achievements are a testament to our commitment to the continued advancement of the economy, and continue to push us to deliver innovative financial solutions.”

Credit Banks’s Jack Ngare concluded by noting that the Kenyan financial landscape had grown tremendously in the past few years, becoming one of the most vibrant and innovative in the region. The launch of the Konnect Prepaid Card is the next step in the bank’s journey to transforming the financial industry landscape through innovative and relevant financial solutions. 

Anyone in Kenya can apply for the prepaid card directly through our website or at any of our branches and once request is received, we process the card and it would be ready to use immediately. 


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