JamboPay launches paperless online payment system

Partner websites also register on Jambopay to express their interest to use it, but must undergo a vetting process to ensure users are not exposed to fraudulent purchases. To make purchases, users visit the websites selling goods they are interested in, make selections and when complete, the shopping card directs them to the payment system.

Here, they open their virtual accounts and authorize payment of the required cost. “Users are not charged for using the payment system. It is the owners of the websites who pay 3-5 per cent of the total transaction,” said Mr Muchemi. Once the purchase is made, the product is delivered as per the instructions of the vendor.

However, security concerns are critical and have been identified as one of the major inhibitors to the use of credit cards in Kenya. Mr Muchemi said JamboPay is operating under the regulations of the Communications Commission of Kenya, and uses a system that does not capture user’s credit card or debit card details. The system only maintains the name of the user and the contact details.

“We are the local affiliate of McAfee network security systems so we are able to use these platforms and skills to make our own systems secure. ... The McAfee security systems that we sell in Kenya are able to detect network weakness, and preempt possibilities of hackers getting into a system because they scan the system all the time and give reports on where the weaknesses exit.

He said Kenyan consumers buying online from other website that do not necessarily use JamboPay should only purchase from websites that display trustworthy security signs.