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Kenya Cards and Payments: Opportunities and Risks to 2029

Publisher GlobalData
Published Jul 08, 2025
Length 58 Pages
SKU # GBDT20226836

Description

Kenya Cards and Payments: Opportunities and Risks to 2029

Summary

GlobalData’s ‘Kenya Cards and Payments: Opportunities and Risks to 2029' report provides detailed analysis of market trends in the Kenyan cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, card, and cheques during the review-period (2021-25e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2025e-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘Kenya Cards and Payments: Opportunities and Risks to 2029' report provides top-level market analysis, information and insights into the Kenyan cards and payments industry, including -
  • Current and forecast values for each market in the Kenyan cards and payments industry, including debit, and credit cards.
  • Detailed insights into payment instruments including cash, card, and cheques. It also, includes an overview of the country's key alternative payment instruments.
  • Ecommerce market analysis.
  • Analysis of various market drivers and regulations governing the Kenyan cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit, and credit cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Kenyan cards and payments industry.
Key Highlights
  • In October 2024, the CBK announced the successful migration of the Kenya Electronic Payment and Settlement System (KEPSS) to the ISO 20022 Global Messaging Standard. KEPSS, Kenya's Real-Time Gross Settlement (RTGS) system, is managed by the CBK to facilitate the processing of high-value payments. The transition to ISO 20022 offers substantial advantages, including expedited settlement times, enhanced processing efficiency, and improved liquidity management for financial institutions. The implementation of the ISO 20022 Standard is a pivotal element of the National Payments Strategy 2022-25 and builds upon significant initiatives spearheaded by the CBK.
  • To enhance competition within the banking sector, the CBK has revoked the decade-long ban on the issuance of new banking licenses and will commence accepting applications starting from July 1, 2025. Prospective entrants into the Kenyan banking market must now satisfy a minimum capital requirement of KES10 billion ($74.1 million); a substantial increase from the former threshold of KES1 billion ($7.4 million). This amendment, enacted through the 2024 Business Laws Amendment Act, is designed to ensure that only financially robust and stable entities are permitted to operate within the country's banking landscape.
  • To serve the Muslim community in the country, Premier Bank, a Kenya-based Islamic financial institution, announced a partnership with Mastercard in December 2024. This collaboration has led to the introduction of a suite of Shariah-compliant debit, credit, and prepaid cards. The new Premier Mastercard products feature contactless payment capabilities, widespread global acceptance, and robust security measures. These offerings are meticulously designed to adhere to the tenets of Islamic finance and to meet the financial needs of both individuals and businesses in Kenya.
Scope
  • Card market size in terms of number of cards, value and volume of transactions in Kenya along with detailed card segmentation of debit, credit and charge cards available in the country.
  • Market sizing and analysis of major payment instruments including cash, card, and cheques.
  • Payment market trends and growth for both historical and forecast period
  • Competitor analysis with detailed insights into leading card issuers and schemes.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • A detailed snapshot of country's key alternative payment brands.
Reasons to Buy
  • Make strategic business decisions, using top-level historic and forecast market data, related to the Kenyan cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Kenyan cards and payments industry.
  • Assess the competitive dynamics in the Kenyan cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Kenya.
  • Gain insights into key regulations governing the Kenyan cards and payments industry.

Table of Contents

58 Pages

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