Co-operative Bank of Kenya, in collaboration with Visa, has launched a suite of business cards including a Debit Card, a Credit Card, and a Pre-paid business card, specifically designed to revolutionize expense management for medium and small business enterprises, cooperative societies, and corporate institutions in Kenya.
These innovative cards can be used both locally and internationally, allowing customers to seamlessly separate business expenses from personal ones. With the new cards, businesses can make payments directly from their business accounts, access interest-free credit to manage cash flow, and digitize and track office and travel expenses. Additionally, cardholders can enjoy business-centric discounts from selected Visa merchants worldwide. The cards are available to both existing Co-op Bank customers and non-customers and can be obtained from any Co-op Bank branch nationwide.
During his keynote speech at the launch event, Co-op Bank’s Acting Director of Retail Banking, Mr. Moses Gitau, highlighted this initiative as a significant milestone in the bank’s digital transformation journey. He noted that the bank has heavily invested in innovation, including a successful upgrade of its core banking system in 2023, costing over Ksh5 billion. This investment aims to drive innovation and support businesses in their digitization efforts by integrating cutting-edge banking technology.
Visa East Africa Vice President and General Manager, Chad Pollock, also spoke at the event, emphasizing the importance of digital payments for business growth and economic development. “This launch marks a significant milestone in our partnership with Co-op Bank and our ongoing efforts to support small and medium-sized enterprises (SMEs) and commercial enterprises in their journey towards digital transformation. Digital payments are not just convenient; they are a catalyst for business growth and economic development. In today’s fast-paced digital world, businesses need to adapt to stay competitive, and digital payments play a crucial role in this transformation,” Pollock remarked.
In recognition of its commitment to innovation, Co-op Bank recently received several awards, including the highest IT accolade in the banking sector at this year’s CIO100 Awards. These awards celebrate organizations that have made a tangible impact on business operations, community development, and digital transformation across the African continent.
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