JUST IN: Govt Advances Plans for Mobile Payment System to Rival M-Pesa
The Kenya Kwanza administration is advancing plans to establish a faster and more interoperable payment system to rival Safaricom’s popular mobile money platform, M-Pesa. The National Treasury announced its commitment to implementing the National Payment Strategy (2022-2025) while expediting the finalization of a National Policy on Digital Finance. This initiative aims to modernize Kenya’s payment ecosystem and address challenges in accessibility and affordability. The Central Bank of Kenya (CBK), in collaboration with industry stakeholders, is spearheading efforts to launch a fast payment system. This system will enable seamless interoperability between retail payment services offered by banks and non-bank providers, fostering
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