Kenya-based KCB Bank and GoSwiff, a Singapore-based payment acceptance solutions provider, have launched a mobile payment solution (mPOS) for Rwandan merchants.

The launch, which coincided with World Economic Forum’s Africa meeting in Kigali, follows an earlier launch of a similar mPOS service in Kenya.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The new mobile payment service will enable merchants of any size to accept digital payments in Rwanda, with the use of a mobile application and an mPOS terminal.

GoSwiff said the mPOS system will bring efficiencies in areas like mass collection of insurance premiums, collection of public payments and market purchases.

KCB Bank Rwanda managing director Maurice Toroitich said: "It gives us great pleasure to introduce the mobile payment solution, mPOS, into the Rwandan market. This technology will enable seamless payments at both stationary and mobile locations which gives merchants the competitive advantage of dynamism.

"We are always aiming to provide financial solutions to our customers and with mPOS, payment of goods will be quick, secure and convenient. This initiative emphasizes KCB Bank’s ambition to digitize payment platforms. We hope this will lead to substantial growth in digital payments across Rwanda."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

GoSwiff head of business development in Africa Belinda Aka said: "This launch further demonstrates our commitment to financial inclusion in Africa through merchant digitization. We are rapidly growing our regional reach in Africa; building the infrastructure to bring the unbanked and under banked to electronic payments in line with one of the core values of our company."