Payments/KE
Kenya
ISO KE · 3 schemes
Summary
- KE-QR Code universal standard (May 2023)
- M-Pesa dominant (51M customers, 604K agents)
- PesaLink interbank (80+ institutions)
- Fast Payment System developing (2024+)
- Interoperability mandated across all MNOs
Banking landscape
Central Bank
- Name: Central Bank of Kenya (CBK)
- Website: https://www.centralbank.go.ke/
- Role: Monetary policy, payment standards, QR specification
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Equity Bank | Local | Equity App |
| 2 | KCB Group | Local | KCB App |
| 3 | Co-operative Bank | Local | MCo-op Cash |
| 4 | Absa Kenya | International | Absa App |
| 5 | Standard Chartered Kenya | International | SC Mobile |
Market Structure
- M-Pesa: Market leader (51M customers)
- 604,000: Active agents across Africa
- Interoperability: Mandated by CBK
- KE-QR: Universal QR standard
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| KE-QR Code | CBK | Universal QR | Active (2023) |
| M-Pesa | Safaricom | Mobile money | Dominant |
| PesaLink | IPSL | Interbank A2A | Active (2017) |
| Fast Payment System | CBK | Instant | Developing |
M-Pesa Statistics (2024)
- 51 million customers
- 604,000+ active agents
- 12.7% CAGR (2020-2024)
- Cross-platform interoperability
PesaLink
- Launched 2017
- 80+ financial institutions
- Real-time account-to-account
- Mobile number transfers
QR code standards
KE-QR Code (Kenya Universal QR)
| Attribute | Value |
|---|---|
| Launch | May 2023 |
| Regulator | Central Bank of Kenya |
| Type | Universal/Interoperable |
| Apps | M-Pesa, Equity, KCB, all banks |
KE-QR Features
- Single QR for all providers
- Any app scans any merchant QR
- Bank and mobile money unified
- EMV-aligned specification
- Merchant portal auto-generation
Payment Flow
- Merchant displays KE-QR Code
- Customer scans with any app (M-Pesa, bank)
- Payment completes via mobile money or bank
- Real-time merchant notification
Global Comparison
- Similar to SGQR (Singapore)
- Similar to UPI QR (India)
- Similar to Alipay/WeChat QR (China)
- EMVCo-aligned standard
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| M-Pesa | Safaricom | Yes | Universal wallet |
| Equity App | Equity Bank | Yes | KE-QR enabled |
| KCB App | KCB | Yes | KE-QR enabled |
| Airtel Money | Airtel | Yes | Interoperable |
| T-kash | Telkom | Yes | Interoperable |
M-Pesa Kenya
- Dominant mobile money
- KE-QR Code enabled
- Lipa Na M-Pesa merchants
- QR code merchant portal
- Cross-network transfers
Bank Apps
- All major bank apps support KE-QR
- Universal merchant acceptance
- Bank account or wallet payments
- Single QR infrastructure
Merchant Integration
- Lipa Na M-Pesa Merchant Portal
- Automatic QR code creation
- Business App for merchants
- Till display with QR stickers
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| KE-QR Code | Universal QR | EMV | 2023 | ke-qr-code |
| M-Pesa | Mobile money | App | 51M users | — |
| PesaLink | Interbank | A2A | 80+ banks | — |
Sources
- Tuko - Safaricom M-Pesa QR Code Launch
- TechWeez - Kenya QR Code Standard
- TransFi - Kenya Payment Rails
- EPI - Kenya Mobile Wallet Growth
- Wikipedia - M-Pesa
- Lightspark - Instant Payments Kenya
- MicroSave - Digital Payment Revolution
- BiznaKenya - M-Pesa Payment Method