The Online Kenyan Logo

The Online Kenyan

C
Originally published by Capital Business
📰 Read Full Article
business
September 29, 2025
8h ago

Boosting card transactions holds key to SME growth

Boosting card transactions holds key to SME growth

By Erastus Muthura NAIROBI, Kenya, Sept 29  -In 2015 Financial Sector Deepening (FSD) Kenya released a study looking at key barriers and opportunities Kenya breaking news | Kenya news today |..

✨ Key Highlights

Despite previous studies highlighting barriers, Kenya's adoption of debit, credit, and prepaid cards remains low compared to other fintech solutions, impacting SME growth. However, a recent Visa report indicates a strong desire among SMEs to embrace digital payments for benefits like reduced fraud and improved operational efficiency.

  • Card transactions at ATMs and POS machines dropped by 14 percent to 3.6 million in June 2025 compared to the previous year.
  • Absa Bank Kenya recently launched the Absa Business Credit Card, tailored for Micro, Small and Medium Enterprises (MSMEs), offering flexible, interest-free credit for up to 50 days.
  • The value of MSME deposits held by commercial banks nearly doubled from Sh577 billion in 2020 to Sh956 billion last year, now accounting for 16.5 percent of total deposits.

Continue Reading

Read the complete article from Capital Business

📰 Read Full Article

Related News

Kenya Plans To Slash Mobile Money Transaction Fees
business10h ago

Kenya Plans To Slash Mobile Money Transaction Fees

The Central Bank of Kenya (CBK) plans to significantly reduce mobile money transaction fees, aiming to reignite financial inclusion and broaden participation in the digital economy. This initiative is detailed in the draft National Financial Inclusion Strategy 2025 – 2028, which seeks to address the stagnation in new mobile money users despite rising transaction volumes.

T
The Kenyan Wall Street
📰 Read Full Story
Virtual Pay to directly acquire Visa Card transactions with new licence
business1w ago

Virtual Pay to directly acquire Visa Card transactions with new licence

Virtual Pay International, a local Payment Service Provider, has secured a Visa Principal Acquirer Licence, making it the first Kenyan player in the online payments sector to directly acquire Visa card transactions. This milestone is set to enhance online payment efficiency and security across East and Central Africa.

C
Capital Business
📰 Read Full Story
Ruto champions climate action, green growth
Video

Ruto champions climate action, green growth

T
The Star (Youtube)
5d ago
Bonto halts Kenyan money transfer operations
business3w ago

Bonto halts Kenyan money transfer operations

Bonto Kenya Money Transfer Limited has suspended its money remittance operations, stopping transactions on August 15, 2025. The company cited mounting market and operational pressures, including narrow margins and rising expenses, as reasons for winding down operations, pending Central Bank of Kenya approvals.

C
Capital Business
📰 Read Full Story