Visa has introduced a new payment processing system in Kenya aimed at helping banks and other financial institutions handle transactions faster and more efficiently. The solution, known as Visa Intelligent Authorization, was unveiled during the Visa Connect Kenya forum held in Nairobi.
The new system is designed to fix challenges linked to older payment systems, which often struggle to keep up with the growing demand for digital transactions. These older systems can slow down approvals, increase costs and make it harder for businesses to expand into new payment services.
With the new setup, banks and payment providers can process transactions across different card networks using one connection, instead of managing multiple systems. Visa says this will reduce the need for expensive infrastructure and make it easier for institutions to run their operations.
At the heart of the system is how payments are approved. Every time a customer pays using a card, a request is sent to the bank to approve or decline the transaction within seconds. Visa says its new platform is built to handle this process more smoothly, with fewer disruptions and better performance.
The company says the system can run with very minimal downtime and has been recording high approval rates globally. It can also be used alongside existing systems, meaning banks do not have to fully replace what they already have.
Walter Lironi, Visa’s Head of Value-Added Services for Central and Eastern Europe, Middle East and Africa, said the move is in response to the fast-changing payments space. “Commerce is evolving rapidly, and acquirers need systems that can keep up,” he said. “Many transactions still run on older platforms, and this solution is meant to make processing more reliable and ready for the future.”
Visa says the new system will also help reduce failed transactions, improve security and make the overall payment experience smoother for both businesses and customers.
The rollout comes at a time when digital payments are growing quickly in Kenya, with more people and businesses relying on card and mobile transactions in their day-to-day activities.
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