Electronic payment systems gaining momentum in Kenya

NAIROBI, KENYA: Although use of electronic payment systems, especially use of debit and credit cards, is still low in Kenya, card companies are positioning for a slice of this market.

While lack of consumer awareness and education still limits use of plastic money, in an economy that is still largely cash-based, trends are changing. Available figures from the Central Bank of Kenya ( CBK) show that at the end of June 2013, there were about 6.8 million debit cards and about 200,000 credit cards.