KENYA
Preferred Payment Methods for Ecommerce
Country Payment Mix
Card payments in Kenya reached KES 24.6 billion (USD 193.4 million) as more Kenyans gain access to banking services. This growth is supported by government-led financial inclusion efforts and the expansion of agency banking.
Kenya is a leader in mobile payments, with M-Pesa and Pesapal widely used across the country. M-Pesa alone has over 11 million monthly users and 400,000 merchants, making mobile payments a well-established and trusted method.
With 77% of Kenyans planning to use digital wallets and 54% intending to use QR codes, the demand for digital, cash-free payments is increasing. This trend aligns with a global shift toward contactless and convenient transactions.
Bank transfers are widely used and can be completed in real time through PesaLink. PesaLink offers a reliable, low-cost way to transfer money 24/7 using just a mobile phone number.
Cash is still widely used, accounting for 80% of small and micro-enterprise transactions, though its use is gradually declining as mobile payment options grow. Cash circulation spiked by 30% during the early pandemic phase.
Kenya’s BNPL market, valued at USD 521.8 million, is expanding quickly. This payment option is especially appealing amid the growth of ecommerce and economic recovery efforts, with forecasts showing strong growth through 2028.
Visa accounts for 56% of cards used in Kenya, while Mastercard holds 44%, reflecting a balanced market presence in the credit and debit card sector.