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Kenya
Kenya mobile money
Scheme name: Kenya mobile money
IIPS Type: Mobile money
Instruments: E-money
Channels: Agent, USSD, App, Browser, QR
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 map| Category | Kenya mobile money |
|---|---|
| Geographic reach | Domestic |
| Geographic description | Kenya |
| Scheme governance | None (bilateral agreements) |
| Settlement agent | Central Bank of Kenya |
| Participants - commercial banks | 0 |
| Participants - MMOs | 3 |
| Participants - non-bank PSPs | 0 |
| Participants - MFIs | 0 |
| Volumes 2019 | 6,743,669,229 |
| Volumes 2020 | 8,611,210,046 |
| Volumes 2021 | 12,709,171,788 |
| US$ Exchange Rate 30 April | 133.6060 |
| Values 2019 | 103,543,868,789 USD |
| Values 2020 | 144,928,927,731 USD |
| Values 2021 | 214,417,393,540 USD |
| Values 2022 | 272,152,333,576 USD |
| Values 2023 not-on-us transactions (US$) | N/A |
| Values 2023 on-us transactions (US$) | N/A |
| Total value of instant payment transactions 2023 (US$) | 285,396,247,314 USD |
| Interoperability arrangement | Bilateral |
| Ownership model | Participant-owned |
| Governance Typology | Private association |
| Scheme rules shared or publically available? | No |
| Messaging standard | N/A |
| Types of proxy IDs | Mobile phone number |
| Use of open APIs | Yes |
| QR code standard | N/A |
| Pro-poor governance | No |
| CB governance involvement | No |
| Expanded use Cases | No |
| Minimum channel functionality | Yes |
| Minimum use case functionality | Yes |
| All licensed PSPs can participate (all-to-all interoperability) | No |
| Recourse | No |
| Not-for-loss | No |
| Status | Reached basic level |
| Strengths/drivers | Fulfilment of basic criteria provides a good base to progress further on the inclusivity spectrum. |
| Areas of development | Areas 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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