1. finance
2. bank

ISSUE
April 2015
Bank of Baroda (K) signs with Paynet for
APRIL
Visa EMV Chip Card processing
Paynet Team takes part
in Postilion Training
Yatish Tewari, CEO Bank of Baroda (Kenya) with Bernard Matthewman, CEO Paynet during the signing ceremony
Bank of Baroda Kenya Ltd has signed this month
with Paynet choosing us to be partners for its
Visa EMV Chip card issuing project. Under the
partnership, Paynet will deliver VISA EMV chip debit
card processing.
Speaking during the agreement signing ceremony,
Bank of Baroda CEO Mr. Yatish Tewari said this
would be the first time Bank of Baroda Kenya would
be issuing Visa cards and had opted to issue and
process these off the EMV Chip technology platform
provided by Paynet.
“We have chosen Paynet as our partner because
of their significant experience and knowledge in
management of successful credit and debit card
operations on behalf of its partner banks in the
region. We are delighted to note that Paynet has
delivered the Visa Chip and PIN technology to
several banks, showcasing their strong credentials in
card management and fraud intelligence. Paynet’s
years of experience and commitment to the industry
makes them the right partner for Bank of Baroda
as we move our customers from proprietary card to
EMV Chip Visa cards” said Mr Tewari.
Paynet CEO Bernard Matthewman thanked Bank
of Baroda for choosing Paynet. “Bank of Baroda
joins the league of leading profitable banks in the
region that are increasingly outsourcing non-core
operations to run more efficient leaner operations.
We have worked with Bank of Baroda for a number
of years and we continue to be delighted by the
efficiency and high levels of customer service they
deliver. ” he said.
Paynet members of staff attended an intense
5 day course covering the 5 modules of Postilion.
This is part of the project to install the new
market leading switch into the Paynet PCI DSS
environment. The training focused on the tasks
that operators and administrators are required to
carry out regularly to serve our customers.
These include monitoring the system, performing
queries, maintenance operations and first-level
troubleshooting. The Team then sat an online
exam offered by ACI Payment System the provider
and developer of the Positilion system and Paynet
is delighted to announce that we had a 100%
successful pass rate. Well done Paynet Team .
The next step for Paynet staff will be module
specialization in any of the following modules
covered during further training; EFT Overview,
Postilion Realtime, Postilion Card, Postilion Office,
ATM Driving . We look forward to updating you
on the Postilion project and further developments
Part of the Paynet Team that attended the intensive
5 day Postilion training
PesaPoint Services go live on National Bank ATMs nationwide
Bernard Matthewman, CEO Paynet explains a point as Munir Ahmed , CEO National
Bank (right) and Mitchell Elegbe, CEO Interswitch look on during the launch
National Bank of Kenya this month
officially opened its ATM network for
nationwide sharing aiming to attract
millions of cardholders from other banks,
in a new partnership with Kenya’s largest
interbank ATM aggregator- PesaPoint.
Following the launch of this service,
ATMs belonging to National Bank
effectively become part of the PesaPoint
ATM network, meaning cardholders
from all other PesaPoint partner
institutions can now use any National
Bank ATMs across the country. The
partnership has drastically reduced
ATM transaction fees for other banks.
PesaPoint and its 32 PesaPoint Partner
banks encourage cardholders in Kenya
to use any ATM branded with the
PesaPoint logo to enjoy a wide array of
benefits.
Speaking during the event, Bernard
Matthewman, CEO of Paynet thanked
National Bank for the continued and
long standing partnership. National
Bank customers have since 2006 been
able to access services at PesaPoint
branded ATMs around the country.
“As an e-banking innovations leader,
PesaPoint shares the same vision with
National Bank that if more banks
embraced ATM (infrastructure) sharing
and interconnection, customers of
financial institutions in Kenya would
enjoy affordable access to services at any
bank’s ATMs. With infrastructure sharing
partnerships, the bank’s ATMs serve
more customers (from other financial
institutions) and thus report more return
on infrastructure investment, while
customers of all banks enjoy lower ATM
fees, time saving and the convenience
of using any ATM near them.”
National Bank’s Managing Director
Munir Ahmed said the launch of
PesaPoint services at National Bank ATMs
was a strategic step for the bank as it
will provide all card holders and banks
customers with easy and convenient
access various ATM services thereby
boosting the bank’s (non-interest)
revenue.
“The Bank has expanded its network
across the country- growing both the
brick and mortar footprint and digital
channels. Our branches grew in 2014 by
15 to total 75, ATM network by 26 to 123
ATMs nationwide. And our customers
continue to enjoy access to over 1000
other ATMs belonging to PesaPoint and
its partners around the country,” said Mr.
Munir. He added: “As we continue with
our transformation agenda, our focus
remains to deliver innovative channels
through which we can efficiently provide
services to all customers.”
Karimi Ithau, GM Paynet performs transactions with cards from other banks at a
National Bank ATM as the bank’s CEO Munir Ahmed and Bernard Matthewman look on.
Paynet Group subsidiaries:
Paynet Kenya | Paynet Tanzania | PesaPoint Limited | Electronic Financial Technologies Limited (E.F.T)
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