Kenya’s digital payments success story is entering a new chapter, with industry leaders now shifting attention from mobile money growth to the strength of the systems powering transactions behind the scenes.
At a Nairobi media roundtable organised by global payments firm Verto, players in the financial services space said the country must upgrade its payments infrastructure to keep up with rising trade volumes and expanding cross border business.
For years, Kenya has been celebrated as a pioneer in digital finance, largely due to the success of M-Pesa and other mobile-based platforms.
These services transformed how millions of Kenyans send and receive money. But as more businesses trade across Africa and beyond, experts say the current systems are under pressure.
The conversation at the roundtable focused on the need for faster settlement, smoother foreign exchange processes and better integration between local and global payment networks.
Stakeholders said that while retail payments are largely efficient, many enterprises still struggle with delays, high fees and complex reconciliation processes when moving money across borders.
Mark Mwaniki, Director of Sales for Kenya at Verto, said the next phase of growth will depend on whether the country can build infrastructure that supports companies operating at scale.
“Kenya has already shown that demand for digital payments is strong,” Mwaniki said. “What businesses are asking for now is efficiency at the infrastructure level. They want fewer intermediaries, transparent pricing and systems that can support both domestic and cross-border transactions without unnecessary friction.”
According to participants, small and medium-sized enterprises are particularly affected by existing gaps. Companies trading within Africa often face inconsistent processes, currency conversion challenges and limited visibility over transaction timelines. These issues, they noted, can slow expansion and increase operational costs.
Mwaniki said infrastructure providers must focus on linking local payment methods with international networks rather than building entirely new systems.
“The future is about connection,” he said. “It is about ensuring that money can move securely and transparently, whether a business is paying a supplier in Nairobi or settling an invoice in another market.”
Regulatory coordination
The forum also highlighted the importance of regulatory coordination. Industry players said clear policy direction and ongoing dialogue between regulators, banks and fintech firms will be essential to support innovation while safeguarding financial stability.
As Kenya positions itself as a regional trade and investment hub, a reliable payments infrastructure is increasingly viewed as a strategic asset. Participants argued that sustained investment in back-end systems, not just customer-facing apps, will determine how competitive the country remains in the evolving digital economy.
The discussions signalled a broader shift in tone within the sector. Kenya’s reputation as a mobile money leader remains intact, but attention is now turning to the deeper systems that move billions of shillings daily. For industry leaders, strengthening those foundations is the next step in unlocking faster trade, smoother cross-border commerce and wider economic inclusion.
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