Co-Operative Bank of Kenya is implementing CR2's SmartBank technology to provide electronic purse services to its customers.
The Nairobi-based bank will use the CR2 system to issue smart cards that allow customers to pre-load value onto their card at an ATM, branch or at a merchant point-of-sale. device. Funds are debited to a current account.
Customers can top up cards, as well as obtain balance or statement information at the ATM, branches or at a point-of-sale.
Cian Kinsella, CR2, CEO, says e-purse solutions are becoming popular in Africa and because the communications infrastructure is still developing, offline technology is likely to prevail for some time.
The bank - the first to license CR2's e-purse technology - is expected to go live with SmartBank by early next year.
The vendor says Co-Operative Bank of Kenya is also deploying its Visa SMS Acquiring software and laready uses its technology to manage its 30 ATMs.