Kenya’s SACCO Sector Advances Digital Access enabled by EFT Corporation

EFT Corporation, an African payment solutions provider supporting over 100 million end users and processing more than $33 billion in transactions annually, has announced its partnership with a number of Kenya’s leading SACCOs to co-create a shared digital payments platform. The announcement was made at the EFT Connect: Kenya event, held in Nairobi in May 2025, where regulators, SACCO leaders, and fintech enablers gathered to explore the future of cooperative financial infrastructure.

While SACCOs have made strong strides in adopting digital tools, many have not yet been licensed as PSPs or integrated into Kenya’s National Payment System (NPS). As a result, they haven’t had the opportunity to issue cards, process transactions directly, or scale digital services without relying on bank intermediaries.

“This initiative is about enabling SACCOs to take ownership of their digital future,” says Catherine Korsten, Chief Commercial Officer at EFT Corporation. “By co-creating the platform with the sector, we’re building the infrastructure SACCOs need to scale sustainably - on their terms.”

Unlocking Opportunities: Why SACCOs Need Shared Digital Infrastructure  

Many SACCOs have already embraced real-time payment capabilities through platforms like Mobile Money, Bank ATMs & Fintechs. However, these often rely on third-party integrations, which can introduce added complexity, cost, and operational challenges. A shared digital infrastructure would streamline these connections, reduce reliance on external providers, and unlock greater efficiency and autonomy for SACCOs.

The findings show that manual clearing processes - including cheques, wire transfers, and bank-led reconciliation - are still widely used. KYC and onboarding methods vary significantly, from digital tools like IPRS to entirely manual, branch-based processes.

While SACCOs have shown strong intent to scale their digital services, many are still working toward the infrastructure needed to do so independently and efficiently. Fragmented interoperability and reliance on external providers continue to pose challenges — reinforcing the need for a shared platform that supports growth and long-term competitiveness.

These responses reflect a sector that is digitally active and eager to evolve -highlighting the growing need for a shared platform that reduces duplication, cuts costs, and brings SACCOs into direct participation with national systems.

A Platform Built by SACCOs, for SACCOs

The proposed platform will provide real-time interoperability for transactions and enable SACCOs to connect directly to the National Payment System (NPS). It will also support shared agency banking, streamlined onboarding, and more efficient clearing and reconciliation processes.

In addition, the platform will introduce flexible, SACCO-specific tools such as multi-wallet structures and automated settlement mechanisms, designed to scale with each institution’s needs.

This initiative is not intended to replace existing systems, but rather to serve as a foundational infrastructure layer that enhances current capabilities and enables SACCOs to innovate more independently. It reflects EFT Corporation’s philosophy of enabling inclusion through co-creation.

EFT Corporation’s Enabling Experience

EFT Corporation has played a pivotal role in shaping national payment infrastructure across Africa. From Zimswitch in Zimbabwe to Eswitch in Zambia, the company has consistently delivered secure, scalable, and regulator-aligned platforms that expand access and enable financial inclusion at scale.

EFT Corporation is recognised as a trusted technology partner for institutions looking to modernise, integrate, and grow.

In Kenya, EFT Corporation will act as both the technology partner and strategic enabler of the SACCO payments platform. Working alongside a SACCO-led working group of 20 to 25 institutions, the company will guide the platform’s design, development, and implementation, drawing on its experience building 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/