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Kenya

Kenya mobile money

Scheme name: Kenya mobile money

IIPS Type: Mobile money

Instruments: E-money

Channels: Browser, App, USSD

Use cases: Transfers & remittances (P2P), Merchant payments (P2B), Bill payments (P2B/P2G), Inventory & business services (B2B), Salaries & wages (B2P)

Inclusivity level: Basic

Year of establishment: 2018

System owner: None (bilateral agreements)

Overseer: Central Bank of Kenya and Communications Authority Kenya

Operator: None (bilateral agreements)

Total Participants: 3

Volumes 2023: 24,205,305,824

Values 2023: 285,396,247,314 USD

Back to mapMore information about this topic
CategoryKenya mobile money
Geographic reachDomestic
Geographic descriptionKenya
Scheme governanceNone (bilateral agreements)
Settlement agentCentral Bank of Kenya
Participants - commercial banks0
Participants - MMOs3
Participants - non-bank PSPs0
Participants - MFIs0
Volumes 20196,743,669,229
Volumes 20208,611,210,046
Volumes 202112,709,171,788
US$ Exchange Rate 30 April133.6060
Values 2019103,543,868,789 USD
Values 2020144,928,927,731 USD
Values 2021214,417,393,540 USD
Values 2022272,152,333,576 USD
Values 2023 not-on-us transactions (US$)غير متوفر USD
Values 2023 on-us transactions (US$)N/A
Total value of instant payment transactions 2023 (US$)285,396,247,314 USD
Interoperability arrangementBilateral
Ownership modelParticipant-owned
Governance TypologyPrivate association
Scheme rules shared or publically available?No
Messaging standardN/A
Types of proxy IDsMobile phone number
Use of open APIsYes
QR code standard N/A
Pro-poor governanceNo
CB governance involvementNo
Expanded use casesNo
Minimum channel functionalityYes
Minimum use case functionalityYes
All licensed PSPs can participate (all-to-all interoperability)No
RecourseNo
Not-for-lossNo
StatusReached basic level
Strengths/driversFulfilment of basic criteria provides a good base to progress further on the inclusivity spectrum.
Areas of developmentAreas for development include involvement of Central Bank as well as pushing for all-to-all interoperability instead of only focusing on mobile money interoperability. While technically all MMOs are part of the arranagement, there is a unlevel playing field as the system rules are negotiated bilaterally instead of multilaterally, which can have negative outcomes for competition.

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