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CBK Launches Advanced Fast Payment System for Instant Settlements

The Central Bank of Kenya (CBK) is revolutionizing the nation's financial landscape with its groundbreaking Fast Payment System (FPS). This innovative platform aims to transform how Kenyans conduct financial transactions, enabling real-time settlements across diverse financial institutions. Since 2014, the...

Kenya’s Digital Lending Landscape Expands as CBK Licenses 19 New Providers

The Central Bank of Kenya (CBK) has significantly increased the number of regulated digital lenders by licensing 19 new providers. This brings the total number of licensed Digital Credit Providers (DCPs) in Kenya to 51, reflecting the CBK's ongoing...

CBK Launches The Kenya Quick Response Code to Increase Usage of Digital Payments

The Central Bank of Kenya (CBK), today, announces the issuance and implementation of the Kenya Quick Response Code Standard 2023 (KE-QR Code Standard 2023; or the Standard). The Standard will guide how Payment Service Providers and banks (institutions) that...

CBK Revokes License Of Mobile Payments Provider Tangaza Pesa

The Central Bank of Kenya (CBK) on Tuesday revoked the license of mobile money transfer service Mobile Pay Limited popularly known as ‘Tangaza’ which was faulted for continued violation of laws including the failure to submit audit reports. The regulator, in...

Digital Lenders Welcome Regulation By CBK, But under these Conditions

NAIROBI, Kenya - Digital Lenders yesterday, July 9th, said they now support the proposal to have their work regulated by the Central Bank of Kenya (CBK). Digital Lenders Association Chairperson Kevin Mutiso said they support the recent regulation drafted by...

Pesapal Gets Authorization From CBK as a Payment Service Provider

The Central Bank of Kenya (CBK) has granted authorization to Pesapal Limited as a Payment Service Provider (PSP) to carry out Payment Gateway Services in compliance with the National Payment System (NPS) Act, 2011, NPS Regulations 2014. Founded in 2009,...

CBK Approves StanChart to Offer Mobile Loans

Standard Chartered Bank Kenya (StanChart) will now enter the mobile lending business after a nod from the Central Bank of Kenya (CBK). CBK approved the request from the lender to venture into the digital micro-lending space where it is in...

CBK: No More Free M-Pesa Transfers

The Central Bank of Kenya (CBK) has today announced the re-introduction of mobile money transaction fees marking the end of free M-pesa transactions for transfers under Sh1000. From January 2021, only mobile money transactions below Sh100 will be free as...

Swypt Integrates cKES Kenya’s First Decentralized Stablecoin

Swypt, a decentralized finance platform, has successfully integrated cKES, Kenya's pioneering decentralized stablecoin, on the Mento platform. The stablecoin maintains a 1:1 peg with the Kenyan shilling, marking a notable advancement in the country's digital payment ecosystem. The integration represents...

M-Pesa’s Integration with Pesalink Set to Transform Kenya’s Digital Payment Landscape

Safaricom's M-Pesa is poised to join the Pesalink network in a strategic move, proposed jointly by Safaricom and the Kenya Bankers Association (KBA) to the Central Bank of Kenya (CBK), with a promise to create a more unified and...