Equity Bank partners with Google to introduce a cashless solution
Transport payment card to ease payment of bus fare
Nairobi, Kenya, 30th April 2013 – Equity Bank Group has teamed up with global leader in technology Google to bring you BebaPay, a payment card which will provide a quick and convenient way to pay for bus fare without the use of cash. BebaPay is an Equity Bank product powered by Google who bring their expertise in payments and Near Field Communication (NFC) technology. The technology allows commuters to simply tap their BebaPay cards on a card reader to pay, making it easier for commuters to transact with operators.
“We are excited at this partnership with our technology partners which is in line with our commitment to continue innovating financial products and services that make it easier and convenient for our customers when they are paying for goods or services,” said Dr. James Mwangi Group CEO, Equity Bank. “Our vision of a cashless economy is one of our strategic focus and is achievable through collaborations with other industry leaders who share this vision such as Google,” he added.
BebaPay card holders will benefit from Equity Bank’s wide footprint across East Africa which includes - 208branches, over 6,600 Equity Agents 600 ATMs and 12,000 Points of Sale.
Bus operators in the country will be able to use the BebaPay application on their smartphones to accept payments from BebaPay cards. Commuters will receive free SMS receipts on their mobile phones making it easier to budget and manage their travel expenses.
“Research has shown that technology can help bus operators and passengers to ease the process of ticketing, so we’re pleased that Nairobi commuters can now enjoy the advantages of BebaPay”, says Joe Mucheru Country Manager, Google Kenya. “Using NFC is part of Google’s efforts to improve transactions for both businesses and consumers. NFC makes it easier for people to pay for goods and services, and gives merchants extra ways to connect with their customers using technology and the Internet,” he added.
Currently commuters living in Nairobi can obtain their BebaPay cards from Kencom house located in Nairobi’s central business district and will be able to top up at any Equity Bank Agent countrywide; more merchants are to be signed up as the service rolls out countrywide.
The partnership between Equity Bank and Google is part of the payments solutions provider’s goal of increasing its business in the region by providing added value to more customers, while at the same time encouraging the uptake of cashless transactions in the region as envisioned in its pursuit of a cashless global economy.
ABOUT GOOGLE INC
Google’s innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major global markets. Google’s targeted advertising program provides businesses of all sizes with measurable results, while enhancing the overall web experience for users. Google is headquartered in Silicon Valley with offices throughout the Americas, Europe, Africa and Asia. For more information, visit http://www.google.com/africa and our Google Africa Blog: google-africa.blogspot.com. You can also follow Google's Africa team on Twitter: twitter.com/googleafrica
ABOUT EQUITY BANK
Equity Bank Group is one of the region's leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern, inclusive financial services that maximize their opportunities. While the Equity brand is associated with empowerment of un-banked & the poorly banked segment of population, the Bank has evolved to become an all-inclusive bank for all. With nearly 8 million accounts, Equity Bank is the largest bank in the region in terms of customer base. The Bank has operations in Kenya, Uganda, South Sudan, Rwanda, and Tanzania and is listed on the Nairobi Securities Exchange and Uganda Securities Exchange