For the second year running, Equity Bank has scooped the Visa Top Acquirer Award at the 2018 edition of the Visa Awards. The award was issued to the Bank for pushingthe highest Visa card volumes in 2018.
Over the last year, Equity Bank has made significant investments in its merchant acquiring infrastructure, which resulted in a 34% growth in the volumes being transacted by the Bank’s merchants, from Ksh. 40.3 billion in Q3 2017 to Ksh.54 billion, according to the Q3 2018 financial results.
Equity currently has 14,642 merchants with some of the most notable being Naivas, Tuskys, Oil Libya, Total Service Stations, the Intercontinental Hotel, Quickmart Supermarkets, Simba Corporation Limited, Kenya Airways, KWS, the Nairobi Hospital, Chandarana Supermarkets, Furniture Palace, Tamarind Hotel , Text Book Centre, among others.
Commenting on the award, Equity Bank’s Managing Director, Polycarp Igathe noted that the award was a result of the Bank’s contribution to a cashless economy.
“We are elated to receive the award, because it is evidence of our efforts towards the facilitation of cashless transactions, giving customers convenience and frictionless experience across the region by enhancing our card and payments processing services.”
In addition to Visa, Equity Bank acquires American Express, MasterCard, China Union Pay, JCB Diners Club and & Discover.
Source: Equity Bank Kenya
Since 2010 Equity Bank has been working on Way4 card management system by OpenWay.
OpenWay is the only best-in-class provider of digital payment software solutions, and the best cloud payment systems provider as rated by Aite and PayTech. OpenWay is a strategic partner of tier 1/2 banks and processors, fintech startups, and other leading payment players around the globe. Among them are Network Int. and Equity Bank Group in MENA, Lotte and JACCS in Asia, Nexi and Finaro in Europe, Comdata and Banesco in Americas, and Ampol in Australia.
