Kenyans Can Now Use Shilling On Amazon
15 February 2019
Cross-border currency movement company Western Union and US tech giant Amazon have entered into a partnership that will allow Kenyans to use local currency to pay for products sold on the e-commerce platform.
The deal is aimed at widening Amazon's customer base in the country by bringing on board clients who were locked out by hitches on the payment platform, which do not allow transactions in local currencies.
Similar partnerships are already working in nine other countries across the globe including in Chile, Colombia, Hong Kong, Indonesia, Malaysia, Peru, Philippines, Taiwan and Thailand.
The e-commerce firm, owned by billionaire Jeff Bezos, recently launched a cross-border payment option dubbed 'PayCode' that processes complex foreign exchange, settlement and money movement requirements for international transactions.
After selecting PayCode on Amazon.com checkout page, online shoppers are sent a code with instructions on how to pay in person at a Western Union agent.
The move is expected to provide greater access to online goods for customers who were previously excluded from e-commerce due to lack of accepted payment methods.
Source: The East African