Kenya Cards and Payments: Opportunities and Risks to 2030

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GlobalData’s ‘Kenya Cards and Payments: Opportunities and Risks to 2030' report provides top-level market analysis, information and insights into Kenya cards and payments industry, including:
• Current and forecast values for each market in Kenya cards and payments industry, including debit, and credit cards.
• Detailed insights into payment instruments including cash, cards, credit transfer, 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 Kenya 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 Kenya cards and payments industry.

GlobalData’s ‘Kenya Cards and Payments: Opportunities and Risks to 2030' report provides detailed analysis of market trends in Kenya cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including debit, and credit cards during the review-period (2022–26e).

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 (2026e–30f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s 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.

Scope

Card market size in terms of number of cards, value and volume of transactions in Kenya along with detailed card segmentation of debit, and credit cards available in the country.

Market sizing and analysis of major payment instruments including cash, cards, credit transfer, and cheques.

Payment market trends and growth for both historical and forecast period

Competitor analysis with detailed insights into leading card issuers and schemes.

Comprehensive analysis of consumer attitudes and buying preferences for cards.

A detailed snapshot of country's key alternative payment brands.

Key Highlights

Regional digital payments are gaining traction in the country to support cross-border trade. For example, in October 2025, the Common Market for Eastern and Southern Africa launched the Digital Retail Payments Platform to make instant cross-border payments directly in local currencies across its 21 member states, including Kenya. The platform is designed to reduce transaction costs, minimize the reliance on foreign currencies such as the US dollar, and improve interoperability between banks, fintechs, and mobile money providers. Initially piloted in the Malawi–Zambia corridor, the platform is expected to support SMEs, women, and youth-led businesses by facilitating faster and more affordable regional trade transactions.

To boost the country’s credit card market, banks offer Sharia-compliant cards specifically designed for the Muslim population. In July 2025, Absa Bank Kenya launched La Riba Timiza, the country’s first fully mobile Islamic banking platform from a Tier-1 bank, along with Absa La Riba debit and credit cards. Card holders are also offered flexible repayment options, airport lounge access, cashback on domestic and international purchases, and discount at partnered merchants.

New innovative payments are being launched in the country. For instance, in April 2026, Diamond Trust Bank (DTB), in partnership with Mastercard and fintech company Tappy Pay, launched NFC-enabled payment wearables. The solution enables customers to make contactless payments using wearable devices such as rings and wristbands by simply tapping them on a compatible payment terminal.

Reasons to Buy

Make strategic business decisions, using top-level historic and forecast market data, related to Kenya cards and payments industry and each market within it.

Understand the key market trends and growth opportunities in Kenya cards and payments industry.

Assess the competitive dynamics in Kenya cards and payments industry.

Gain insights into marketing strategies used for various card types in Kenya.

Gain insights into key regulations governing Kenya cards and payments industry.

Central Bank of Kenya
KCB
Equity Bank
Co-operative Bank of Kenya
NCBA
Diamond Trust Bank
Access Bank
Standard Bank
Bank of Baroda
I&M Bank
Sidian Bank
Absa Bank Kenya
Standard Chartered
Ecobank Kenya Ltd
National Bank of Kenya
Absa Bank Kenya
Standard Bank
Visa
Mastercard

Table of Contents

1. Executive Summary

2. Market Overview

3. Macroeconomics, Regulation, and Infrastructure

4. Payment Instruments

5. Card-Based Payments

6. Digital Wallet Payments

7. Buy Now Pay Later

8. Retail Payments

9. In-Store Payments

10. Ecommerce Payments

11. Bill Payments

12. P2P and Remittances

13. Appendix

Table

Key facts, 2025

Payment instrument transaction values (LCU), 2022-2030f

Payment instrument transaction values ($), 2022-2030f

Payment instrument transaction volumes (units), 2022-2030f

Payment cards in circulation by type (units), 2022-2030f

Volume of payment card transactions (units), 2022-2030f

Value of payment card transactions (LCU), 2022-2030f

Value of payment card transactions ($), 2022-2030f

Debit cards in circulation (units), 2022-2030f

Debit card transaction volumes, 2022-2030f

Debit card transaction values (LCU), 2022-2030f

Debit card transaction values ($), 2022-2030f

Debit cards in circulation by scheme (units), 2022-26e

Debit card transaction values by scheme (LCU), 2022-26e

Debit card transaction values by scheme ($), 2022-26e

Debit cards in circulation by issuer (units), 2022-26e

Debit cards transaction value by issuer (LCU), 2022-26e

Debit cards transaction value by issuer ($), 2022-26e

Credit cards in circulation (Units), 2022-2030f

Credit card transaction volumes, 2022-2030f

Credit card transaction values (units), 2022-2030f

Credit card transaction values ($), 2022-2030f

Credit cards in circulation by scheme (units), 2022-26e

Credit card transaction values by scheme (LCU), 2022-26e

Credit card transaction values by scheme ($), 2022-26e

Credit cards in circulation by issuer (units), 2022-26e

Credit cards transaction value by issuer (LCU), 2022-26e

Credit cards transaction value by issuer ($), 2022-26e

Prepaid cards in circulation (units), 2022-2030f

prepaid card transaction values (LCU), 2022-2030f

prepaid card transaction values ($), 2022-2030f

Prepaid card transaction volumes (units), 2022-2030f

Figures

Card penetration per inhabitant

Average number of monthly card transactions

POS terminals per 1,000 inhabitants

Inflation rate

GDP growth rate

Unemployment rate

Total population

Banked population

Internet penetration

Cell phone penetration

Number of ATMs and ATMs per 1 million inhabitants

Number of POS terminals and POS terminals per 1 million inhabitants

Payment istrument transaction volume (paper-based vs electronic payments)

Payment instruments transaction value

Payment instruments transaction volume

Cross-border payment value

Cross-border payment Volume

Payment cards number of cards in circulation

Payment cards card penetration per individual, by card type

Payment cards value of card transactions

Payment cards volume of card transactions

Payments card value physical POS vs. remote

Payments card volume physical POS vs. remote

Payments value domestic vs. cross-border

Payments volume domestic vs. cross-border

Debit card frequency of payments and average transaction value

Debit card ATM withdrawals frequency of use and average transaction value

Debit card schemes transaction value

Debit card schemes transaction volume

Debit card schemes market share in terms of transaction value

Debit card issuers by number of cards

Debit card issuers by transaction value share

Credit card frequency of payments and average transaction value

Credit card ATM withdrawals frequency of use and average transaction value

Credit card schemes transaction value

Credit card schemes transaction volume

Credit card schemes market share in terms of transaction value

Credit card issuers by number of cards

Credit card issuers by transaction value share

Credit card balances outstanding repayment schedule

Number of prepaid cards, value and volume

Prepaid card usage drivers

Instant payments transaction value

Instant payments transaction volume

Digital wallet transaction value

Digital wallet transaction volume

Mobile Proximity Payments usage drivers

Mobile Proximity Payments funding methods

Preferred BNPL brand/tool for in-store and online payments

In-store transaction value by payment method

In-store payment tool usage drivers

In-store transaction value by products and services

E-commerce transaction value

Ecommerce market by product and services

Ecommerce market by payment tools

Online payment tool usage drivers

Bill Payments – Breakdown by payment tools

Bill Payments- Frequency of bill payments

P2P Payments – Domestic and International P2P money transfers and top priorities for P2P tools

Value of inward and outward remittances

Top 10 countries for inward and onward remittances

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