Internet Payment: A Revolution in Kenya

The last decade was nothing less than revolutionary. Rapid advancements in technology and the development of the Internet have drastically transformed traditional ways of doing business. Although a new phenomenon, the value of Internet based payment in the USA valued over US$500 trillion in 1999. The immediate popularity of Internet based payment was driven by its substantial benefits, which include:

• Significant Reduction in Payment Cycle - Leads to faster monetary circulation, higher cash turnover and higher trade volume.
• Improved Utilization of Human Resources - Results in greater efficiency and employee productivity.
• Lower Costs - Studies indicate that Internet based payments work out 90% cheaper than traditional paper payments.
• Secure Payment System: Provides easy traceability in event of theft or fraud.
• Accessible From Anywhere in the World at Any Time

We at STL are working to develop and offer an Internet based payment facility (iPayment) that will benefit the entire Kenyan community. Although Internet payment systems were initially geared towards eCommerce, they are equally suited for the "brick and mortar" business environment.

Our aim is to provide an electronic channel networking all the banks to facilitate faster, cheaper, efficient and a secure payment method. By being part of and using iPayment, Kenyan businesses and individuals will reap significant benefits. Furthermore, iPayment will be an international landmark – no such network exists at the moment anywhere in the world.

Interested?
For further information about iPayment and how it can change the way you do business, please contact us at info@stl-horizon.com

Back to Archive Listing