In Kenya, digital payments are expanding beyond the pandemic-driven push

According to Cellulant, the growth seen in Kenya is reflective of the payments landscape in the rest of Africa, with a noticeable shift in consumer behavior.
As more consumers prefer digital platforms as their primary payment method, digital payments have evolved from a nice-to-have for businesses to a requirement.

According to Faith Nkatha, Cellulant’s Kenyan country manager, who made the remarks at the opening ceremony of this year’s Social Media Week in Nairobi. The event, which will take place from the 16th to the 19th of November 2021 at the Movenpick Hotel, is themed “Re-invention: Re-imagining Digital and Technology for a Better Tomorrow,” and will bring together industry leaders to discuss market trends.

In terms of pre- and post-COVID digital payment trends, Faith stated, “In 2019, Cellulant processed $5.7 billion in payments in Kenya alone.” We saw a 40% increase in 2020, which was accelerated by the COVID-pandemic, and a 50% increase is expected by the end of 2021.”

According to Cellulant, the growth in Kenya is reflective of the payments landscape in the rest of Africa, with a noticeable shift in consumer behavior.

At first, consumers were looking for different digital payment options because physical stores were closed, and when they reopened, such methods provided safer ways to make payments in an effort to limit the spread of COVID-19.

However, that is no longer the case, as we are witnessing a shift in customer behavior and the reinforcing adoption of digital payments across various business verticals, as posited by Kenya’s Country Manager at Cellulant.

“As more of our merchant customers prefer digital payments, we’re innovating new payment frameworks and expanding our partnerships to meet this rising demand,” Faith Nkatha Gitonga added. “We’re definitely seeing more of our customers from airlines, e-commerce companies, ride-hailing companies, online travel agencies, utilities, and telecoms asking for more platform-style digital products and payment method diversity.”

Cellulant believes that growth in the payments technology space extends beyond the ease of making and receiving payments. The benefits of digital payments’ security and convenience are critical to financial inclusion and economic empowerment for millions of people across Africa, allowing them to take the reins of development that will transform the continent.

Faith Nkatha, country manager for Cellulant in Kenya, at Social Media Week Nairobi 2021