Paynet Kenya supports NIC Bank’s Value Added Services to Credit Card customers

September 2007

Paynet Kenya has expanded the scope of its agreement with NIC Bank on Outsourced Visa Card Processing by providing a platform to offer electronic and SMS-based value added services to the bank’s credit card holders.

These value add services include;

1. E-statements
• Email statements
  
  
2. SMS Services
   • Due payment reminders direct to customer’s own phone via SMS
   • SMS alert for each transaction direct to customer’s own phone via SMS
   • SMS alert upon reaching 90% of credit limit

These services are fast, friendly and informative, enhancing service delivery to the cardholders in almost real-time; with the SMS service enabling them to monitor and resolve disputes arising from transactions on their credit cards immediately they occur.

To assist the customer in expenditure allocation, the SMS notification for credit payment will be sent 5 days prior the due date

All customers with e-mail addresses will be offered the e-statement service as a default setting and at absolutely no cost. NIC Bank respects the privacy of its customers and those who do not wish to have this service can notify the bank for deactivation.

For transactions notification via SMS, customers have the option of setting the limit they wish to receive a notification for should their transaction value reach that amount. This notification will be available as an option per customer whether transacting in or outside the country.

On the SMS platform, Paynet has designed a threshold that notifies a customer upon reaching 90% of their credit facility, helping in financial planning and to avoid any inconvenience or embarrassment on the part of the customer should their purchase value exceed the remaining 10% credit on their card.

By embracing the technology to offer these services, NIC Bank will immensely benefit by reducing the cost of stationery and other utilities required to process printed statements for its credit card holders, whilst concentrating on its core business.

The model for these services was developed and is being implemented by Paynet Kenya, whose strategy has been to build critical mass by providing specific services to identified market needs. Paynet has an experienced business development capacity and thus the ability to build business solutions that make economic sense and meet ever changing requirements.

Paynet Kenya manages outsource Visa card processing for both NIC Bank and DTB Kenya.

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