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Utility firm Kenya Power in partnership with Stanbic Bank has developed an online payment solution targeting commercial customers who will now be able to better manage and settle their post-paid power bills on the go.
Dubbed Corporate Pay, the solution enables medium to large commercial customers to manage and have oversight of all their post-paid electricity bills.
The new platform enables clients to consolidate due amounts from multiple accounts in order to generate one e-slip for single payment with real time credit to the multiple accounts.
Joe Alaro, Head Transactional Products and Services, Stanbic Bank Kenya, said Corporate Pay will also minimize disruptions to customers’ operations such as power disconnections, with the bank now able to offer multiple payment platforms such as Mpesa, Online, RTGS, cash or Cheques deposits into the Kenya Power account.
“The roll out of Corporate Pay in partnership with Stanbic Bank is a welcome development as this will facilitate convenient management of bills for our customers and enable operational efficiency,” said Harun Karisa, Kenya Power’s Acting General Manager for Finance.
In January 2017, Stanbic Bank launched Lipa 360, a suite of financial solutions designed to make cash collections and payments more efficient for organizations and to help them streamline their supply chains with real-time reconciliations.