Kenya Country Report

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Published Date: December 2017

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Kenya Payments Market | Country Report

A comprehensive overview of the cards, payments and consumer banking market in Kenya.

KENYA CARDS AND PAYMENTS REPORT | KEY FACTS

There has been very strong growth in banking assets since 2009, increasing from $12.6 billion to an estimated $36.7 billion in 2017.
The Central Bank of Kenya (CBK) passed a regulation in August 2016 capping, at four per cent above the benchmark interest rate, the maximum interest rate charged by the banks for a credit facility.
Credit cards are not popular in Kenya; credit card penetration stood at an estimated one card per 100 adults in 2017.
The payment cards market in the country is dominated by debit cards, which accounted for 91 per cent of all payment cards in issue at the end of 2017.
The fact that one in every ten mobile money transactions carried out in the world takes place in Kenya gives an indication of the significance of mobile money in this market.
The average adult in Kenya made 57 mobile money transactions in 2016 compared to just eight card transactions.
Visa dominates the Kenyan credit cards market, with an estimated market share of 90 per cent of cards in issue at the end of 2017.
At the end of 2017, there were an estimated 15 million Visa-branded debit cards in issue in Kenya, representing a share of 95 per cent.
Barclays Kenya and the Co-operative Bank of Kenya (COBK) are the leading credit card issuers in Kenya. They had an estimated market share of 44 per cent and 27 per cent respectively in 2017.
New POS installations make use of GPRS mobile data technology and reduce downtime, compared to older, landline-based systems. This has helped boost merchant and consumer confidence in payment cards and supported growth in the number of merchant acceptance points.

Kenya Country Report Table of Contents

Research topics
Demographics
The economy
Retail banking
Consumer finance market
Cards market
E-money
Profit pool
Pricing and enhancements
The networks: credit cards
The networks: debit cards
Issuers
Merchant acquiring and processing
Online acquiring
Regulatory and other cards market information

Appendix I: Demographics

Population metrics
Ownership of key consumer goods
Internet usage by population

Appendix II: The economy

Major economic indicators

Appendix III: Retail banking

Major retail banking indicators
Banking/infrastructure penetration
Retail banks key metrics
Retail banks profit & loss metrics

Appendix IV: Consumer finance market

Consumer credit outstandings and indebtedness
Consumer credit outstandings by product

Appendix V: Cards market

Credit card numbers
Total credit card metrics
Consumer credit cards metrics
Commercial credit cards metrics
Credit cards profitability Indicators
Debit card numbers
Debit cards metrics

Appendix VI: E-money

Prepaid/e-money cards metrics
Mobile money metrics

Appendix VII: Profit pool

Profit pool

Appendix VIII: Pricing and enhancements

Card pricing and enhancements

Appendix IX: The networks: credit cards

Networks' credit card market shares
Networks' credit card numbers
Networks' credit card billed volume
Networks' number of credit card transactions
Networks' average credit card transaction value
Credit card interchange fees by network

Appendix X: The networks: debit cards

Networks' debit card market shares
Networks' debit card numbers
Networks' debit card billed volume
Networks' number of debit card transactions
Networks' average debit card transaction value

Appendix XI: Card issuers

Key credit card issuers market shares by credit card numbers
Key issuers market shares in credit card outstandings
Key debit card Issuers market shares by debit card numbers
Mobile money issuers: market share of subscriptions and agents
Mobile money issuers: market share of mobile commerce and P2P transfers

Appendix XII: Merchant acquiring and processing

Merchant acquirer credit card market share
Credit card merchant service charges
Merchant acquirer debit card market share
Debit card merchant service charges
Credit card issuer/issuing processor relationships
Credit card acquirer/acquiring processor relationships
Credit card issuing processor market shares by card numbers
Credit card acquiring processor market shares by the number of POS transactions

Appendix XIII: Online acquiring

Online merchant acquirer market share

MORE AFRICA CARDS & PAYMENTS REPORTS

Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in Africa. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and Africa finance experts.

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