Kenyan SACCOs enter partnership for shared digital payments platform
EFT Corporation, a payment solutions provider based in Africa, which supports over 100 million end users and processes transactions exceeding $33 billion annually, has declared its collaboration with several of Kenya’s prominent SACCOs to jointly develop a shared digital payments platform. This announcement was made during the EFT Connect: Kenya event, which took place in Nairobi in May 2025, where regulators, SACCO leaders, and fintech enablers convened to discuss the future of cooperative financial infrastructure.
Although SACCOs have made significant progress in adopting digital tools, many have yet to obtain licenses as Payment Service Providers (PSPs) or to be integrated into Kenya’s National Payment System (NPS). Consequently, they have not had the chance to issue cards, process transactions directly, or expand digital services without depending on bank intermediaries.
“This initiative aims to empower SACCOs to take control of their digital future,” states Catherine Korsten, Chief Commercial Officer at EFT Corporation. “By collaborating with the sector to co-create the platform, we are establishing the infrastructure that SACCOs require to grow sustainably – on their own terms.”
Unlocking Opportunities: The Necessity of Shared Digital Infrastructure for SACCOs
Numerous SACCOs have already adopted real-time payment capabilities through platforms such as Mobile Money, Bank ATMs, and Fintechs. However, these often depend on third-party integrations, which can lead to increased complexity, costs, and operational difficulties. A shared digital infrastructure would simplify these connections, lessen reliance on external providers, and enhance efficiency and autonomy for SACCOs.
The results indicate that manual clearing methods – such as cheques, wire transfers, and bank-led reconciliation – remain prevalent. KYC and onboarding techniques differ greatly, ranging from digital solutions like IPRS to completely manual, branch-based approaches.
Although SACCOs have demonstrated a strong desire to expand their digital offerings, many are still striving to establish the necessary infrastructure to operate independently and effectively. Fragmented interoperability and dependence on external providers continue to present obstacles — underscoring the necessity for a shared platform that fosters growth and long-term competitiveness.
These insights illustrate a sector that is digitally engaged and keen to progress – emphasizing the increasing demand for a shared platform that minimizes redundancy, reduces expenses, and facilitates SACCOs’ direct involvement with national systems.
A Platform Developed by SACCOs, for SACCOs
The proposed platform aims to deliver real-time interoperability for transactions, allowing SACCOs to connect directly to the National Payment System (NPS). It will also facilitate shared agency banking, simplify onboarding processes, and enhance the efficiency of clearing and reconciliation.
Furthermore, the platform will offer adaptable, SACCO-specific tools such as multi-wallet configurations and automated settlement systems, tailored to grow alongside each institution’s requirements.
This initiative is designed not to supplant existing systems but to function as a foundational infrastructure layer that improves current capabilities and empowers SACCOs to innovate with greater autonomy. It embodies EFT Corporation’s philosophy of fostering inclusion through collaborative creation.
EFT Corporation’s Enabling Experience
EFT Corporation has been instrumental in developing national payment infrastructure throughout Africa. From Zimswitch in Zimbabwe to Eswitch in Zambia, the company has reliably provided secure, scalable, and regulator-compliant platforms that broaden access and promote financial inclusion on a large scale.
EFT Corporation is acknowledged as a dependable technology partner for institutions aiming to modernize, integrate, and expand.
In Kenya, EFT Corporation will serve as both the technology partner and strategic facilitator of the SACCO payments platform. Collaborating with a SACCO-led working group comprising 20 to 25 institutions, the company will oversee the platform’s design, development, and implementation, leveraging its expertise in constructing complex, multi-stakeholder infrastructure in similarly dynamic markets.
Next Steps
A pilot programme and product co-design sessions are set to begin in Q3 2025. These initial workshops will focus on defining wallet parameters, onboarding processes, and SACCO-specific user flows in line with both regulatory and operational requirements.
SACCOs interested in joining the working group or participating in the pilot phase are encouraged to contact EFT Corporation directly at https://eftcorp.com/contact-us/
