M-Pesa, the trailblazing digital payment service in Kenya, has transformed the banking landscape since its inception in 2007. Initially catering to non-banking customers, it now offers a comprehensive range of fintech solutions, including savings accounts, loans, and merchant payments, serving over 3 million users. Retail services include seamless money transfers, savings accounts, and instant loans via products like M-Shwari and KCB M-Pesa, while SMEs benefit from solutions such as Lipa NA for digital payments and Business Till for POS transactions. Additionally, M-Pesa facilitates forex traders in Kenya by enabling convenient funding of trading accounts; however, traders must verify forex companies’ regulatory approval by the Capital Markets Authority (CMA) before engaging in transactions via M-Pesa.
