Interswitch, sacco sign digital payment deal

Electronic payment company Interswitch Group has inked a deal with K-Unity Sacco to provide its more than 100,000 members secure digital payment solutions.

Interswitch has integrated its mass payment platform Autopay with the Sacco's mobile app, Unicash. It has opened up its Autopay web portal to the sacco.

“Effectively, K-Unity Sacco members are able to disburse payments to different accounts and mobile wallets. Members who are also SMEs and small businesses will be able to make payments on the web portal,” said Interswitch Group country manager Romana Rajput.

The tech firm has also automated the sacco’s manual payment process to enable members initiate, review, authorise and monitor payment processes digitally.

“All sacco members will thus be able to disburse mass payments through Autopay to different bank accounts and mobile money wallets any day including weekends and holidays any time (24/7),” said K-Unity’s chief executive officer Simon Njenga.

Members of K-Unity, with an asset base of over Sh4 billion, will enjoy one-off or recurring direct credit multiple payments to vendors, contractors, suppliers and staff, across multiple banks in a timely and cost-effective manner.

“Our members from all across the country whom we also provide other business lines in property and insurance will be able to make mass payments to multiple recipients and beneficiaries at the click of a button,” Mr Njenga said.

“This partnership aligns well with our mission of providing a diverse range of financial services affordably to our customers while giving value to investment funds.”