Pan-African banking conglomerate; Ecobank, has partnered with Visa to launch a digital quick response platform which equip boda boda riders with the ability to receive payments from electronic cards which are Visa enabled, as well as mobile apps for free.
According to Business Daily Africa, the new product will not be restricted to smartphones alone.
It is expected to help Boda Boda riders to cultivate the habit a of saving.
While the motorcycle or Boda Boda sector is arguably the biggest employer of youths in Kenya, many of the riders with the sector, do not have bank accounts.
With the new digital payment service, more than 5,000 boda boda riders within Kitengela town and its environs will now be able to access payments.
Customers who do not have smartphones will still be able to pay. Their payments will be done via a bank USSD code which can be accessed through feature (kabambe) phones.
Once the USSD code is used, the amount paid will reflect instantly on the mobile device of the Boda Boda rider.
Business Daily Africa stated that Boda Boda riders who spokeduring the launch of the pilot project at Kitengela, praised the new digital service stating that cash transactions had in the past hindered their efforts towards saving. Now each rider can comfortably save 100 Kenyan Shillings and 200 Kenyan Shillings daily.
Majority of the Boda Boda riders in Kenya use hired motorcycles and end up paying the owners between 300 Kenyan Shillings and 400 Kenyan Shillings daily.
