M-Pesa Announces Major ‘Fintech 2.0’ Upgrade with Scheduled Downtime

Safaricom is set to perform a significant upgrade on its M-Pesa platform, migrating to a new system dubbed “Fintech 2.0.” The move is designed to boost transaction capacity, introduce artificial intelligence features, and prepare the mobile money service for future growth, with a planned maintenance window scheduled for early Monday morning.

To address increasing transaction volumes and evolving customer behavior, Safaricom’s M-Pesa is undergoing a core system overhaul. The migration to the new Fintech 2.0 architecture aims to keep the platform at the forefront of financial technology by leveraging cloud infrastructure and AI.

The upgrade is scheduled to take place on Monday, 22nd September, between 12:30 AM and 3:30 AM EAT. During this three-hour window, all M-Pesa services, including airtime purchases, will be temporarily unavailable. Safaricom has stated that this specific time was chosen to minimize disruption for its millions of customers.

What is M-Pesa Fintech 2.0?

The upgrade is built on three key technological advancements intended to future-proof the service:

1. Cloud Infrastructure & Increased Capacity: M-Pesa is moving to a scalable cloud infrastructure to support its massive growth. The platform, which now handles up to 100 million transactions daily, will see its capacity increase from the current 4,500 transactions per second (TPS) to 6,000 TPS.
2. Microservices Architecture: By adopting a microservices-based system, M-Pesa will be able to roll out new products and services more rapidly without disrupting the entire ecosystem. This agile approach is critical for staying competitive and responsive to market needs.
3. Artificial Intelligence Integration: The new platform will leverage AI to deliver more personalized user experiences, proactively detect and prevent fraud, and improve transaction speeds by automatically identifying and addressing performance dips.

This strategic migration underscores Safaricom’s commitment to enhancing the reliability and capability of a service that has become integral to Kenya’s economy. The move to Fintech 2.0 ensures M-Pesa is well-positioned to handle future demands and continue its legacy of financial innovation.