Kenya Cards and Payments - Opportunities and Risks to 2025

Kenya Cards and Payments - Opportunities and Risks to 2025

Summary
‘Kenya Cards and Payments: Opportunities and Risks to 2025’ report provides detailed analysis of market trends in the Kenyan cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, and cheques during the review-period (2017-21e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2021e-25f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.

The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The report provides top-level market analysis, information and insights into the Kenyan cards and payments industry, including -
- Current and forecast values for each market in the Kenyan cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including cash, card and cheques. It also, includes an overview of the country’s key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing the Kenyan cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape of the Kenyan cards and payments industry.

Scope
- In a bid to promote the adoption and usage of electronic payments, the central bank launched the National Payments Strategy 2022-2025 in February 2022. As part of this strategy, the central bank aims o facilitate the adoption of common standards and principles among industry participants to promote interoperability; develop tailored initiatives to promote financial awareness among different consumer segments; encourage the adoption of electronic payments among government agencies; and promote the development of customer-centric, cost-effective payment solutions - especially for financially excluded individuals.
- The Kenyan banking and payments space is witnessing a series of mergers and acquisitions. The most important deal was the acquisition of mobile money payment
service M-PESA by South African mobile communications company Vodacom and Kenyan telecom firm Safaricom in April 2020. In February 2020, Access Bank fully acquired Transnational Bank and its 28 branches in the country. Similarly, Co-operative Bank of Kenya acquired Jamii Bora Bank in August 2020. In March 2021, Salaam African Bank acquired Uwezo Microfinance Bank. This will result in further consolidation in the debit card space.
- To capitalize on the growing number of card-based payments, mobile POS terminal solutions have been launched in the country in addition to traditional POS terminals. For instance, in October 2021, Pesapal introduced Pesapal Sabi Smart POS terminals, which support EMV chip and PIN as well as NFC-based payments. In addition, the terminals offer features such as accounting, reporting, analytics, inventory management, and generating email receipts. Similarly, SellioCloud is an Android-based POS terminal system through which merchants can accept payments as well as perform inventory management, product management, customer management, and generate sales reports.

Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Kenyan cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Kenyan cards and payments industry.
- Assess the competitive dynamics in the Kenyan cards and payments industry.
- Gain insights into marketing strategies used for various card types in Kenya.
- Gain insights into key regulations governing the Kenyan cards and payments industry.