Kenya Cards and Payments - Opportunities and Risks to 2026

The publisher's ‘Kenya Cards and Payments - Opportunities and Risks to 2026' report provides detailed analysis of market trends in Kenya's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, and cheques during the review-period (2018-22e).

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 (2022e-26f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the publisher'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.

The report provides top-level market analysis, information and insights into Kenya's cards and payments industry, including:

• Current and forecast values for each market in Kenya's cards and payments industry, including debit and credit cards
• Detailed insights into payment instruments including cash, cards, 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 Kenya's 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 Kenya's cards and payments industry

Scope

• To help promote the adoption of electronic payments, the Central Bank launched the National Payments Strategy 2022-2025 in February 2022. As part of this strategy, the Central Bank aims to facilitate the adoption of common standards and principles among industry participants to promote interoperability, develop tailored initiatives, and encourage financial awareness among different consumer segments, encourage the adoption of electronic payments among government agencies, and promote the development of customer-centric, cost-effective payment solutions - especially for financially-excluded individuals
• The launch of digital-only banks is expected to promote financial inclusion in the country, which, in turn, will further drive the adoption of debit card transactions. Most recently, in February 2023, digital-only bank Fingo Africa received approval from the Central Bank to launch its services in Kenya, making it the first digital-only bank in the country. The bank plans to offer a range of services, such as account opening, payment cards, withdrawals, and deposits
• With the initial impact of COVID-19 subsiding, 2021 and 2022 improved for credit card companies, as businesses resumed activities, and consumers increased their spending. Overall, the value of credit card payments increased by 22.4% in 2021 and 26.9% in 2022. Furthermore, on March 29, 2023, the Central Bank of Kenya revised its lending rate to 9.50% (compared to 7.00% in January 2022). The ongoing geopolitical uncertainty, high inflation, and rising commodity and energy prices are expected to impact the credit card market, as it is predicted that both consumers and businesses will reduce their spend

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to Kenya's cards and payments industry and each market within it
• Understand the key market trends and growth opportunities in Kenya's cards and payments industry
• Assess the competitive dynamics in Kenya's cards and payments industry
• Gain insights into marketing strategies used for various card types in Kenya
• Gain insights into key regulations governing Kenya's cards and payments industry.