Financial Inclusion

Electronic Payments on the Rise in Kenya

MasterCard East Africa is reporting that electronic payments are starting to drive and transform the retail market in Kenya.

James Wainaina, Vice President of MasterCard East Africa says that there are more cards in the market, and contactless devices are becoming more common.

“The market is shifting to be able to provide electronic payment services. Demand has already been created, so players on the supply side are working within the ecosystem to ensure that electronic payments become a reality,” Wainaina told the Capital FM Business.

Wainaina believes that in 24 months, card spending volume will be the largest component to any form of electronic payment.

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