Global

Pesalink and The Fintech Alliance Partner to Accelerate Digital Payments in Kenya

TechAfrica News

"Pesalink has signed a Memorandum of Understanding with The Fintech Alliance, marking a significant step towards enhancing Kenya’s digital payment ecosystem. This partnership aims to accelerate access to fast, interoperable, and inclusive digital payments throughout the country."

Tags: Kenya

Global

Central Bank of Kenya Extends Kenya Electronic Payment and Settlement System (KEPSS) Payment Hours to 7PM Starting July 1 to Support 24/7 Economy

Kenyans

"The Central Bank of Kenya (CBK) has announced a major change to the country’s banking operations as part of its broader strategy to modernise and strengthen Kenya’s financial infrastructure. Effective July 1, 2025, the Kenya Electronic Payment and Settlement System (KEPSS) working hours will be from 7am to 7pm on all business days. This is a considerable increase from the current 8:30am to 4:30pm schedule."

Tags: Kenya

Global

Cross Switch Bolsters African Footprint with Strategic Partnership with Pesawise, Kenya

Cross Switch

"Cross Switch has strengthened its African presence by launching services in Kenya and partnering with licensed local payment provider Pesawise. This collaboration makes the most of Pesawise’s solid regulatory standing and trusted reputation, allowing Cross Switch to establish its footprint and, together with Pesawise, immediately deliver payment solutions to businesses throughout Kenya."

Tags: Kenya

Global

Ethiopia: M-Pesa Launches Digital Fuel Payment Service at Bole Total Energies Station

2Merkato

"M-Pesa Safaricom has officially launched a digital fuel payment service at the Bole Total Energies gas station in Addis Ababa, enabling customers to pay for fuel directly through their mobile phones. The new service aims to offer a fast, secure, and convenient payment solution for drivers, streamlining the process of fueling vehicles using digital technology."

Tags: Kenya

Global

Central Bank of Kenya Lifts 10-Year Ban on New Bank Licences

Techpoint Africa

"Starting July 1, 2025, the regulator will begin accepting applications for fresh banking licences, ending a moratorium that began in 2015 following the collapse of Dubai Bank and Imperial Bank, which shook public confidence in the sector."

Tags: Kenya

Global

Kenya’s Payments Evolution: What Banks and Fintechs Can Learn From M-Pesa and Mobile Operators

Stanchion

"M-Pesa’s influence on the card-issuing market in Kenya is profound, driving changes in consumer behaviour, fostering competition, and promoting innovations that integrate mobile money with traditional banking products...Given the competition from M-Pesa, the banks seek to differentiate by enhancing customer experience through their digital banking solutions and personalised services, whilst continuing to streamline operations and reduce costs."

Tags: Kenya

Global

M-Pesa’s Impact on Digital Payments Beyond Borders

MSN

"M-Pesa started as a domestic mobile money platform in 2007, giving millions of unbanked Kenyans access to financial services. Fast-forward to today and the service has evolved into a financial powerhouse, extending its reach far beyond Kenya’s borders. The launch of M-Pesa Global was a game changer, allowing users to send funds to bank accounts, mobile numbers and Western Union locations worldwide."

Tags: Kenya

Global

NCBA Loop Is Reinventing Neobanking by Pioneering Kenya’s Embedded Finance Revolution

TechCabal

"Kenya’s digital banking landscape is shifting, and NCBA LOOP is leading this transformation. Launched as a digital bank in 2017, LOOP has pivoted to a broader financial infrastructure model, embedding credit and payments directly into transactions."

Tags: Kenya

Global

Inside CBK's New Payment System to Shake UP Bank-Mobile Money Transfer

Kenyans.co.ke

"The government has fast-tracked the creation of a mobile payment system that will allow Kenyans to send and receive money instantly, irrespective of the type of bank a customer belongs to."

Tags: Kenya

Global

Safaricom’s M-Pesa to Join Pesalink as Central Bank Plans New Payment System

TechCabal

"Safaricom’s M-Pesa is set to join the Pesalink network, which could significantly reshape Kenya’s digital payments landscape. In a proposal submitted jointly with the Kenya Bankers Association (KBA) to the Central Bank of Kenya (CBK), Safaricom wants to integrate M-Pesa, Kenya’s largest mobile money platform, into the national interbank payment system, Pesalink, which already connects 39 banks across the country."

Tags: Kenya

Global

Safaricom, Kenyan Banks Claim Central Bank’s New Payment System Could Cost $200M

TechCabal

"Safaricom and Kenyan commercial banks claim the Central Bank’s (CBK) plan to build a fast payment system (FPS) could cost at least $200 million (KES25.9 billion) and take up to four years to complete."

Tags: Kenya

Global

Kenyan Banks Push for Pesalink Upgrade as CBK Eyes New Real-Time Payment System

TechCabal

"Kenyan commercial banks are opposing the Central Bank of Kenya’s (CBK) plans to develop a new real-time payments system from scratch, advocating for an upgrade to Pesalink instead."

Tags: Kenya

Global

M-PESA and Thunes to Enable Seamless Payments for Chinese Merchants

TechAfrica News

"M-PESA expands Thunes partnership, enabling Safaricom and Vodacom customers to directly pay Chinese merchants via the M-PESA Super App, bypassing forex conversions for seamless transactions."

Tags: Kenya

Global

New Bill Seeks to Give Central Bank of Kenya Control Over ‘Buy-Now-Pay-Later’ Firms to Curb Exploitation

The Eastleigh Voice News

"A new Bill has been introduced in Parliament to give the Central Bank of Kenya (CBK) the power to control prices charged by buy-now-pay-later (BNPL) companies.   If passed, the Business Laws (Amendment) Bill, 2024, will place BNPL firms under CBK regulation to protect consumers from unfair practices."

Tags: Kenya

Global

Safaricom to Refund M-PESA Transaction Fees to Customers

MSN

"Safaricom PLC has announced an offer for all M-PESA customers as it marks its 24th anniversary in Kenya. In a statement, the telecommunication company said customers will get a refund of transaction fees for their first send-money transaction on Wednesday, October 23."

Tags: Kenya

Global

Kenya's Central Bank to Launch Instant Payment System Across Banks, Fintechs

TechCabal

"The Central Bank of Kenya wants to develop a new instant payment system, the biggest advance in the country’s money transfer network. The Fast Payment System, will allow instant transactions across all financial institutions, including banks and payment service providers."

Tags: Kenya

Global

Central Bank of Kenya Upgrades to Global Standard for Bulk Payments

Kenyan Wall Street

The Central Bank of Kenya (CBK) has migrated the Kenya Electronic Payment and Settlement System (KEPSS) to the Global Messaging Standard (“ISO20022 Standard”). KEPSS is Kenya’s Real-Time Gross Settlement (RTGS) system operated by CBK to process large-value and time-critical payments involving domestic and regional payment transactions.

Tags: Kenya

Global

Safaricom Introduces M-Pesa Ratiba, a Standing Order Feature

Capital News

"Safaricom’s Mobile Money Platform, M-PESA has introduced M-PESA Ratiba, a first of its kind on mobile money feature that will allow users to set up standing orders directly from their M-PESA wallets, enabling seamless and automatic payments of recurring transactions and bills."

Tags: Kenya

Global

Safaricom Adds Mastercard Payment Option for M-Pesa Merchants

Developing Telecoms

"Safaricom and Mastercard announced that they have signed a partnership to accelerate adoption of payment acceptance and cross-border remittance services in Kenya."

Tags: Kenya

Global

Kenya’s Mobile Money Sector Soars After Removal of Airtel-M-Pesa Transfer Barriers

Innovation-Village

"Kenya’s mobile money landscape has experienced a significant boost, with subscriber numbers surging to 38.7 million following the removal of withdrawal codes for transactions between Airtel Money and M-Pesa. Previously, Airtel Money users faced the inconvenience of having to withdraw cash within seven days of receiving funds from M-Pesa or risk having the money returned to the sender."

Tags: Kenya

Companies Global

Mastercard, Bank Team up to Ease Cross-Border Money Transfer [Kenya]

IPP Media

"Mastercard and Equity Bank have announced a strategic collaboration that will enable the bank’s customers to send money safely and securely to 30 countries marking a significant milestone for cross-border financial transactions in Kenya."

Tags: Kenya Mastercard

Global

Kenya’s Digital ID Boosted by Gates Foundation but Govt Struggles to Convince Citizens

Biometric Update

"Kenya’s digital ID project, known as Maisha Namba, will receive advice from the Bill and Melinda Gates Foundation...Maisha Namba is a unique personal identification number assigned to every Kenyan citizen. The number is assigned to the Maisha Card as a digital identity credential."

Tags: Kenya

Companies Global

Kenya’s Lipa Later Partners Mastercard to Drive BNPL Solutions in Africa

Disrupt Africa

"Kenyan startup Lipa Later has partnered Mastercard to drive financial inclusion and expand Buy Now, Pay Later (BNPL) solutions in Africa, starting with Kenya and expanding to Rwanda, Uganda, and Nigeria."

Tags: Kenya Mastercard

Global

M-PESA Transaction Charges Increase Following Enactment of The Finance Act

Techweez

"Kenya’s largest telecom operator, Safaricom is reviewing the pricing for its various services including Mpesa charges after Kenya’s Court of Appeal lifted the suspension on the Finance Act, 2023."

Tags: Kenya

Global

Kenya Suspends Worldcoin Scans Over Security, Privacy and Financial Concerns

TechCrunch

"Kenya was one of the first countries where Worldcoin — the controversial startup that aims to create a new “human identity and financial network” through eye scans and its own cryptocurrency — launched sign-ups and as of this week, it was one of the biggest markets for take-up. Now, Kenya could be one of the first to ban it outright."

Tags: Kenya

Global

TerraPay (Mobex) Partners with Safaricom's M-PESA to Facilitate Seamless Outbound Cross-Border Remittances

PrnAsia

"TerraPay, a leading global payments infrastructure company announced its partnership with Safaricom, Kenya's leading telecommunications, IT and financial services provider...The partnership, through TerraPay's group company Mobex (Kenya), a licensed Money Remittance Provider, will enable more than 30 million M-PESA mobile wallet-holders in Kenya to send real-time payments through TerraPay's interoperable network across all wallets in Bangladesh & Pakistan, with plans to roll out India & Nepal in a few months."

Tags: Bangladesh Kenya Pakistan

Global

More Than 3 Million Customers are Now Using the M-PESA Super App

TechTrendsKE

"Safaricom’s M-PESA super app has surpassed three million users up from 1.2 million in April 2023. Safaricom revealed this on Thursday while announcing two new additional services two the app. According to Safaricom’s latest financial year to April 2023, the Super App processed 489 million transactions with a value of KSh. 1.3 trillion."

Tags: Kenya South Africa

Global

Kenya Central Bank Says Digital Currency Not a 'Compelling Priority'

Reuters

"Kenya's central bank does not consider the issuance of a digital currency a "compelling priority" but it will continue monitoring developments in the area to help future decisions on issuance, it said on Friday."

Tags: Kenya

Global

Central Bank of Kenya Unveils QR Code Standard For Online Payments

Capital Business

"The Central Bank of Kenya (CBK) has unveiled a QR Code Standard that seeks to hasten online payments for businesses and customers. The standard will guide how payment service providers and banks that are regulated by the CBK will issue Quick Response (QR) codes to consumers and businesses that accept digital payments."

Tags: Kenya

Global

Safaricom Slashes Bank to M-Pesa Fees

Global Banking & Finance Review

“Safaricom will drastically cut charges on M-Pesa to bank transactions by a range of between 23 per cent and 100 per cent at the start of next year as the Central Bank of Kenya pushes forward with its goal of making financial services more affordable. Banks and Safaricom have not been charging their customers for these transfers since the outbreak of the Covid-19 pandemic, with the waivers part of emergency measures aimed at increasing the uptake of cashless transactions besides offering relief to households. The CBK has been allowing regulated entities to resume charges on their services but at lower rates than before, with the transfers between mobile wallets and banks being the latest to implement the price reforms. While the charges have been cut substantially, their reinstatement will still boost the revenues of banks and Safaricom by billions of shillings.”

Tags: Kenya