Kenswitch, a Kenyan-based company that connects more than 30 financial institutions via its shared payments network, has entered into an agreement with Visa to create new payment products and enhance clearing and settlement infrastructure within the country.

This partnership brings together Kenswitch’s extensive domestic network—covering ATMs, point-of-sale terminals, and agent banking outlets—with Visa’s global payment technology expertise, including fraud prevention, data analytics, and digital acceptance tools.

The agreement is targeted at banks, fintechs, and merchants. Its goal is to deepen and modernize Kenya’s payment ecosystem through jointly developed solutions and advanced processing infrastructure.

Context of National Switch Competition and Regulatory Environment

This agreement comes at a critical time in Kenya’s payments sector. The Central Bank of Kenya (CBK) is pushing forward plans for a fast payment system and national switch to enable real-time, interoperable money transfers among banks and mobile wallets, reducing transaction costs and improving access.

The potential value of this infrastructure has sparked significant competition. Kenya’s banking industry is advocating Pesalink, managed by Integrated Payment Services Limited (IPSL), the fintech arm of the Kenya Bankers Association, as a candidate backbone for the new real-time network. In March 2025, Nigeria’s inter-bank settlement system, NIBSS, partnered with local company Ceva to enter the Kenyan market, signaling international interest in the project.

Established in 2002 as part of Kenya’s payments modernization efforts, Kenswitch aims to use its Visa partnership to position itself as a key player in the CBK’s procurement process for a new payment system. By integrating its existing local network with international technology and compliance standards, the company hopes to meet the regulator’s goals of interoperability and domestic processing control.

John Mukono, CEO of Kenswitch, stated that this collaboration will enable the creation of value-added solutions and settlement infrastructure, benefiting banks, fintechs, merchants, and everyday Kenyans. Chad Pollock, Visa’s Vice President and General Manager for East Africa, emphasized that the partnership combines global innovation with domestic infrastructure to support safer and more efficient payment experiences across Kenya.