Latest data from the Central Bank of Kenya (CBK) indicates that Kenyans living and working abroad sent home Sh67.16 billion in the first three months of 2019. This clearly tells you how remittances have become an important part of Kenya’s economy.
Remittances have been the country’s largest source of foreign exchange (international currencies) since 2015 when they overtook earnings from tea exports. Kenyans from different parts of the world send money to their loved ones using different channels. However, one of the concerns that has always been raised is efficiency. In fact efficient, affordable remittance systems has been described as very critical for the growth of the African continent.
The need to improve this efficiency has seen companies like SwitchLink Africa come up. The concept for Switch Link Africa originally came from the need to improve efficiency in international remittance, and has slowly evolved into a company that can offer financial solutions to not only IMTO’s but to other Financial institutions, NGO’s, Merchants and individuals.”
SwitchLink Africa is a Global payment systems company, offering business value in the areas of electronic payment, financial transaction processing solutions and services. The company wants to connect the world through the most innovative, reliable and secure digital payment network that enables individuals, businesses and economies to thrive.
As the worlds, best payment solutions provider SwitchLink Africa mission is to enable omnichannel payment transactions securely and seamlessly anytime and from anywhere.
SwitchLink Africa also offers a business solution for local companies receiving payments from clients outside the country. The web-based solution enables businesses or even government institutions to receive payments from distributors, agents and customers from all banks in Kenya. These payments can be made from bank branches, ATMs, Point of Sale, online, or even mobile phones. The dedicated revenue collection solution helps streamline the payment process and significantly improve turnaround times for businesses.
SwitchLink has also developed a Merchant Payment solution for the retail industry. The solution helps businesses in this industry increase revenue through its multiple payment acceptance functions, increase operational accountability through multi-tier inventory management and monitor activities across numerous outlets with its centralized online monitoring system.
Clients who adopt the system are able to accept multiple payments options such as cash, Bank transfers, Sacco Transfers, card and mobile money from its customers. The client can also effectively monitor its various outlets both locally and internationally from the comfort of their office.
SwitchLink’s Online Paydirect solution is also an easy to use payment gateway that integrates directly into your website. The system provides detailed reporting helping clients get real-time updates on who made the payment, which bank account they paid into and how much was paid from anywhere in the world. On registration, clients can receive payments from card Visa/Mastercard, Bank transfers, Airtel Money, and Mpesa.
SwitchLink’s extensive infrastructure capabilities enable clients to efficiently drive high-end transaction processing and ensure the reliability of high availability, scalability and business continuity.