As Kenya shifts to a cashless economy, businesses have adopted various forms of cashless payments including mobile-money transfers and card payments.

From public service vehicles to kiosks and hotels, hard cash is no longer the preferred mode of payment in Kenya.

According to the Central Bank of Kenya (CBK), Kenyans transacted Sh6.59 trillion on mobile money in 2024 compared to Sh2.3 trillion ten years ago.

This highlights the surging demand for mobile money services, with service providers stepping up to introduce more digital payment services.

The Co-operative Bank of Kenya is leading this transformation with its various products including its prepaid cards.

The CO-OP Bank pre-paid card is not linked to any bank account. It’s a card which you can load upfront and use it to pay for travel expenses, online shopping and subscriptions, fuel, and other expenses.

It can also be used as a pocket money card for students. The parent or guardian can load the card anytime from Mpesa, at any Co-op Bank branch or any Co-op Kwa Jirani agent. The student can use the card to:

• Do back to school shopping
• Pay for snacks and other items at the school canteen
• Withdraw cash from any Co-op Bank ATM or Co-op Kwa Jirani Agent, incase they need cash for a school outing or transport on closing day.
• Manage expenses during school holidays. They can pay for shopping, meals, fuel, entertainment, and any other expenses.

How digitization of banking services has spurred growth of Co-op Bank

What are the benefits of having a co-op pre-paid card?

Free transactions

There are no charges for paying with the card, and you can pay for something in Kenya or abroad. The only amount which is deducted from the card is the cost of the item or service you are paying for.

You can pay any amount with your Pre-paid Card; it’s just like paying with cash.

Safety and convenience

It is safer to carry a Card than to carry cash. Even if the card is lost or stolen, it cannot be used without your secret PIN for amounts above Sh2,000.

Co-op Pre-paid cards have a tiny chip (microchip) embedded in the card, making the card virtually impossible to copy.

If your card is lost or stolen, contact the bank immediately on 0703027000. Co-op Bank will block the card to protect the money in your account and replace your card.

Track your spending

You get SMS alerts on your mobile phone every time you use the Prepaid Card. If your child is using the card in school, the parent/guardian will get the SMS alerts so they will know when to top up the card.

Also, you can receive monthly account statements or print mini statements at any Co-op Bank ATM or Co-op Kwa Jirani Agent.

This allows you to see where you’re spending your money in real-time, and can help you to budget your monthly expenses.

How to apply for a co-op pre-paid card.

Visit your nearest Co-op Bank branch with a copy of your ID and KRA PIN. Those below 18 years can use their Parent’s/Guardian’s ID and KRA PIN.

Once the card is ready, you will be alerted to collect it from the branch. You may request to collect it at another branch, in case you’re far from the branch where you applied for the card.

How to load the card 

Deposit Cash at any Co-op Kwa Jirani Agent or Co-op Bank Branch. You must present your card to load it.

Use M-Pesa PayBill 400200. Account P******, where ****** is the card account and P must be in CAPs.

To avoid fraud and keep your card safe:

• Always ensure you shop on secure websites.
• Do NOT share with anyone your Card Number, PIN, CVV (the 3-digit number at the back of your card) or the OTP’s (one-time passwords) you receive when transacting online.
• Co-operative Bank will never call, SMS or Email you to ask for your bank account or card details. Report such requests immediately to the bank through customer service no. 0703027000