[kictanet] Press release: Posta goes digital with Ksh100 million switch

Thu Apr 25 14:39:41 EAT 2013

<sniff sniff> I smell a rat

On Thu, Apr 25, 2013 at 1:45 PM, Andrea Bohnstedt <
andrea.bohnstedt at ratio-magazine.com> wrote:

> Maybe interesting.
> Many regards, Andrea
>
> *NEWS RELEASE*
>
> ** **
>
> *Posta goes digital with Ksh100 million switch*
>
> ** **
>
> *The system will enable Posta automate its payment services*
>
> ** **
>
> *April, 25, 2013:* The Postal Corporation of Kenya (Posta) has invested
> Ksh100 million in rolling out national payment switch that will see
> financial institutions share payment infrastructure and capitalise on PCK’s
> expansive network of over 600 offices that will offer Agency services.   *
> ***
>
> ** **
>
> Besides linking banks’ Automated Teller Machines (ATMs) and Point of Sale
> (POS) terminals in order to avoid the duplication of expensive
> infrastructure resources, the switch will enable Posta automate its payment
> services. ****
>
> ** **
>
> “KCB, Credit Bank, ABC Bank and Faulu Kenya are already on board. We have
> also been an agent of utility companies like Kenya Power, Nairobi City
> Water and Sewerage Company and DStv among others, the Switch will mean more
> capacity and thus more transaction commissions,” says Dr. Enock Kinara, the
> Post Master General.               ****
>
> ** **
>
> The switch which will go live before in the next few weeks will see Posta
> automate all its transactions, including back office reconciliation of
> transactions which is presently manual. Posta, on behalf of the Government,
> remits about Ksh500 million in cash every two months to about 350,000
> beneficiaries; mainly orphans, pensioners and widows. ****
>
> ** **
>
> “Instead of having our customers lining up under heavy security to collect
> cash, now these 350,000 individuals will just need a PostaPay card which
> they can swipe at any of our outlets to withdraw their dues” says Titus
> Juma, the Posta General Manager, Financial and Agency Services.     ****
>
> ** **
>
> The switch, said Dr. Kinara, would enable Posta leverage on technology to
> accelerate financial inclusion of Kenyans in far flung regions which remain
> inaccessible by conventional banking channels. ****
>
> ** **
>
> He said the investment in a switch “is in line with the spirit of touching
> lives and that of the Universal Service Obligation of offering citizens
> basic communication as mandated by the UN.” ****
>
> ** **
>
> “The technology offers an array of infinite transaction possibilities,
> from mobile wallets, credit and debit cards to USSD,” explained Dr. Kinara.
> USSD is a Global System for Mobile (GSM) communication technology that is
> used to send text between a mobile phone and an application program in the
> network. ****
>
> ** **
>
> USSD can be used for WAP browsing, prepaid callback service, mobile-money
> services, location-based content services and menu-based information
> services. Posta is equally seeking approval from the Communication
> Commission of Kenya to provide wireless internet service in 93 offices
> country, 22 of which will be opened. ****
>
> ** **
>
> Posta presently offers mail, courier financial and agency services. As the
> public postal licensee, the Corporation however still offers post office
> letter boxes service, issuance of postage stamps and conveyance of letters
> up to 350 grammes exclusively.****
>
> ** **
>
> Dr. Kinara said the investment was part of re-engineering its operations
> to compete in dynamic business ecosystem where disruptive technologies are
> consistently necessitating continued business innovation.  ****
>
> ** **
>
> “We’ve seen products like M-Pesa, the mobile cash transfer service, change
> the way we transact. For instance our electronic funds transfer service,
> PostaPay was very successful raking in about Ksh400 million a year in
> commissions until the advent of M-Pesa.” ****
>
> ** **
>
> The new service, said Dr. Kinara, is complaint with the Payment Card
> Industry Data Security Standard which is an information security standard
> for organizations that handle cardholder information for the major debit,
> credit, prepaid, e-purse, ATM, and POS cards.****
>
> ** **
>
> The standard was created to increase controls around cardholder data to
> reduce credit card fraud via its exposure. Dr. Kinara said this is
> consistent with Posta’s mission “to deliver superior financial,
> distribution and communication solutions” to its customers, while creating
> value for stakeholders.****
>
> ** **
>
> Ends………………****
>
> ** **
>
> *For more information, please contact Nick Thiong’o of Redhouse Public
> Relations via cell phone: 0723 988944 or email:
> nick.thiongo at redhouseke.com *
>
> * *
>
> Kind Regards,****
>
> ** **
>
> Nick Thiong’o****
>
> Senior Account Manager****
>
> Redhouse Public Relations****
>
> P.O. Box 43037-00100****
>
> T: 2369999  F:2390999****
>
> M: 0723 988 944****
>
> Hanover Suite, 2nd Floor, 14 Riverside Drive****
>
> Nairobi, Kenya****
>
> Twitter: @NickThiongo <https://twitter.com/NickThiongo>****
>
> ** **
>
>
>
> --
> Andrea Bohnstedt <http://ke.linkedin.com/in/andreabohnstedt>
> Publisher
>
> www.ratio-magazine.com
> www.africa-assets.com
>
>
>
>
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