Diamond Trust Bank Kenya (DTB), in partnership with MasterCard, will introduce their mobile payment solution, the DTB Masterpass QR app, in Kenya.
DTB Masterpass QR app allows merchants to accept fast and secure digital payments from consumers.
The mobile banking platform will enable users to pay for in-store purchases by scanning a Quick Response (QR) code displayed at checkout on their smartphones, or by entering a merchant identifier into their feature phones.
Consumers will be able to pay using the app on their mobile device where Masterpass QR is accepted.
The latest development follows collaboration between merchant service provider Kopo Kopo and MasterCard in March 2017, to launch Masterpass QR across eleven markets in Sub-Saharan Africa.
MasterCard said that it will impact over 250,000 micro, small and medium enterprises over the next five years.
Now, Kopo Kopo has decided to team up with DTB to ensure the solution reaches their full network, meeting the requirements of merchants working across various sectors in the country.
MasterCard vice president and area business head for East Africa Chris Bwakira said: “Delivering efficient, secure and cost effective acceptance solutions to Kenyan merchants is an essential step to providing the level of support required to grow and develop businesses.
“According to Kenya’s Micro and Small Enterprises Authority, almost 80 percent of the country’s critical jobs are created by these small enterprises, therefore it is critical that we introduce relevant solutions that addresses specific challenges.”
At present, Masterpass QR is being rolled out at key Kopo Kopo merchants in Nairobi; however, plans are afoot to ensure the solution is accessible across the country.