Interswitch Kenya officially unveiled Autopay, a secure, digital payment disbursement solution to the Kenya market. Autopay enables financial institutions including banks, saccos and digital lenders, corporate and government organizations to make mass payments to multiple recipients and beneficiaries at the click of a button.
Interswitch #Autopay automates existing manual payment process, helping organizations initiate, review, authorize and monitor payment processes with minimal human intervention, leveraging Interswitch’s transfer #API. The solution enables organizations to perform one-off or recurring direct credit multiple payments to vendors, contractors, suppliers, and staff, across multiple banks and mobile wallets like MPESA and Airtel Money in a timely and cost-effective manner.
Henceforth, businesses would only need to log into an #Autopay web portal provided by #Interswitch or integrate the #Autopay #APIs to their existing business systems like ERPs, Mobile Banking, Internet Banking, and Core Banking systems. With over 50 businesses signups we encourage the; Saccos, Banks, Credit Providers, Digital Lenders, NGOs, Remittance Companies, and other large businesses looking for a bulk disbursement solution to come onboard and enjoy seamless disbursement service.
As a means of extending its services to the larger populace, First Capital Bank (FCB) Malawi partnered with the MFS unit to create a USSD platform that would enable them serve both the unbanked and underbanked. The USSD platform allows for accessibility to their existing banking services and new ones as well. In a country where over 70% of the adults are unbanked, this comes as a very welcomed initiative, it also gave us the opportunity to develop an omnichannel experience for their customers. The USSD platform was launched on the 30th of May 2020.
In Malawi today, FCB customers can now dial *2472# to access some of the bank services which includes transfers, bills payment, airtime purchase, agent transfer, and more.
With over 90,000 customers, FCB bank is the latest addition to the Interswitch Kenya Visa Issuing and acquiring network. First Community Bank is the first fully-fledged Sharia-compliant bank in Kenya approved by the Central Bank of Kenya with a total of 20 branches across 7 counties in Kenya. First Community Bank will get to enjoy services like; Mpesa acceptance, Paycode issuance & acceptance, 3D secure for their cards, Instant pin select on ATM and POS, access to the VerveConnect membership, seamless card management distributed across all branches on the Interswitch Network.