Challenge

Lack of a real-time payment solution for small value payments in the banking sector. The Kenyan payments system is recognized for its role in developing mobile money as an increasingly critical payment system via MPesa. However, transactions within the retail banking system remained constrained. The process for making payments between mobile wallets and bank accounts was non-intuitive for users (World Bank, 2021h). Moreover, bank-to-bank EFTs were processed by the ACH, which were based on batched clearing and settling.

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