Ecobank has partnered with Visa to launch a digital quick-response platform to enable boda boda riders to receive payments from mobile apps and Visa-enabled electronic cards for free.
The new product that is not restricted to smartphones is expected to help riders to adopt a culture of saving.
Boda boda sector is arguably the biggest employer to youth but most have no bank accounts.
More than 5,000 boda boda riders in Kitengela town and its environs will now be able to access payments through the digital platforms.
Customers without smartphones can still pay using bank USSD code via a feature handset and the amount paid reflects instantly on the rider’s mobile device.
Speaking during the launch of the pilot project at Kitengela, riders lauded the move saying cash transactions have hampered savings. Most riders have hired motorcycles paying owners between Sh300 and 400 daily. Each rider can comfortably save Sh100 and Sh200 daily.
“This is good news to all boda boda riders countrywide focused on growth. Most of us operate from hand-to-mouth but now it will be hard for one to withdraw the cash to squander,” said Joram Matonya, a rider.