Absa Launches A Special Card For Travel Agents And Businesses

By Soko Directory Team / Published March 28, 2024 | 5:00 pm



Absa

Absa Bank Kenya, in collaboration with Visa, a world leader in digital payments, has introduced the Visa Commercial Choice Program, a new Corporate Card solution targeting members affiliated with the Kenya Association of Travel Agents (KATA), allowing them the benefits of automation, flexibility, and better cash flow management.

Under this partnership, travel agents under KATA – the umbrella body for Travel Agents representing over 300 travel agencies, will enjoy the ease of smarter payment solutions for business-to-business (B2B) transactions, managing working capital, achieving operational efficiency, and better supplier management.

With the newly launched Visa Commercial Choice Travel Programme, Absa Bank can now support travel agents by offering them the convenience of payments in Kenyan Shillings or US Dollars, empowering them to manage cash flows efficiently and optimize working capital. In addition, members can leverage the Visa Commercial Pay Virtual Card Platform to automate booking processes and access better tools for managing data and reconciling tools, all with an intuitive, easy-to-use reporting feature.

As part of this, the Bank is also launching a revamped Absa Corporate Visa Card, developed with enhanced features and flexibility that aims at addressing the challenges of businesses of all sizes. With this card and the new Visa Commercial Pay Virtual Card Platform, businesses can get more visibility and control over their employee-initiated expenses and payments.

While making the announcement, Absa Bank Consumer Banking Director, Moses Muthui said:

“The collaboration between Absa Bank Kenya, Visa, and the Kenya Association of Travel Agents marks a significant milestone in our efforts to empower businesses and accelerate digital inclusion in this space with smarter and integrated payment solutions. This solution will help the travel agents win business without the stress of losing a booking when a payment fails or the burden of managing working capital of paying suppliers upfront.”

“We have been speaking to our clients and professionals from different sectors to understand their specific needs and this new solution is just one among many others that we are rolling out for our customers in various disciplines,” he noted.

Speaking about the partnership, Eva Ngigi-Sarwari, Visa Kenya Country Manager said:

“We are delighted to partner with Absa Bank Kenya and KATA on this offering for travel agents which signifies our shared commitment to innovation, convenience, and service excellence. By combining Visa’s global reach and advanced technology with Absa’s deep local market expertise, we are confident that this new payment solution will significantly enhance the way travel agents manage their transactions, providing them with a seamless, efficient, and secure experience.”

On their part, Nicanor Sabula KATA CEO said “We are thrilled about this strategic collaboration between Absa Bank Kenya and Visa, as it signifies an important milestone for our members. The launch of the Absa Corporate Visa Card tailored for KATA members not only exemplifies our commitment to providing industry-focused financial solutions but also reflects a deep understanding of the members’ specific business needs. Other key features and benefits of the card include a virtual and physical card option where customers have the flexibility to choose between virtual and physical card formats, providing convenience and accessibility for different payment scenarios. It also comes with a Visa Commercial Pay, enabling seamless payments to travel suppliers such as airlines and hotels. This integration streamlines payment processes and supports automated reconciliation of transactions, reducing manual efforts and enhancing efficiency.

Customers using the Absa Corporate Visa Card will also gain access to other Absa Bank offerings, including asset finance solutions and transactional product solutions such as guarantees and invoice discounting, further enhancing their business management capabilities.

The launch of the Absa Corporate Visa Card underscores Absa Bank Kenya’s commitment to innovation and excellence in serving its clients. By leveraging cutting-edge technology and strategic partnerships, Absa continues to deliver solutions that meet the evolving needs of businesses in Kenya and beyond, Muthui added.

Read Also: Analysts Ask Investors To Bet On Absa Bank Shares This Week




About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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