EFT Corporation, a leading African payment solutions provider with over 100 million end users and more than $33 billion in annual transaction volume, has announced a landmark partnership with some of Kenya’s most prominent SACCOs to co-create a shared digital payments platform.
The announcement was made during the EFT Connect: Kenya event, held in Nairobi in May 2025, where key stakeholders—including regulators, SACCO leaders, and fintech innovators—came together to explore the future of cooperative financial infrastructure.
The new platform aims to provide SACCOs (Savings and Credit Cooperative Organisations) with direct access to Kenya’s National Payment System (NPS), enabling them to move beyond reliance on traditional banks and intermediaries. It is designed to enhance SACCOs’ ability to issue cards, process transactions, and offer scalable digital services independently and cost-effectively.
“This initiative is about enabling SACCOs to take ownership of their digital future,” said 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.”
The Need for Shared Digital Infrastructure
SACCOs across Kenya have made considerable progress in adopting digital tools, especially through mobile money, bank ATM integrations, and partnerships with fintechs. However, these services are often third-party dependent, introducing added complexity, operational constraints, and increased cost. Without formal licensing as Payment Service Providers (PSPs) or integration into the NPS, many SACCOs remain on the periphery of the digital financial system.
Manual processes, such as cheque-based clearing and wire transfers, continue to dominate daily operations in many cooperatives. Know Your Customer (KYC) and onboarding methods also vary greatly, with some SACCOs leveraging digital tools like IPRS, while others still rely on manual, in-branch verification. The lack of a standardised infrastructure creates fragmentation, which limits scalability, hinders interoperability, and increases risk.
Despite these challenges, SACCOs have demonstrated a strong desire to scale digital services. What they lack is the foundational infrastructure needed to do so effectively and independently. This is where the proposed platform comes in.
Built by SACCOs, for SACCOs
The shared digital payments platform will be co-created with SACCOs, ensuring that its features are tailored to their specific needs. It will provide real-time interoperability, enabling direct integration with the NPS, and will support shared agency banking, streamlined customer onboarding, and automated clearing and reconciliation processes.
Some of the key features include:
- Multi-wallet structures tailored to SACCO workflows.
- Automated settlement mechanisms that reduce human error and delay.
- A flexible design that can adapt to the size and capabilities of each SACCO.
- Regulatory alignment to support licensing and compliance.
Rather than replacing existing systems, the platform will serve as a foundational layer, enhancing SACCOs’ current capabilities while enabling greater innovation, independence, and efficiency. EFT Corporation views this as a co-creation model for inclusion, rather than a top-down technology rollout.
Proven Track Record
EFT Corporation has a strong track record in building scalable, secure, and regulator-aligned financial infrastructure across Africa. The company was instrumental in the creation of national payment platforms such as Zimswitch in Zimbabwe and Eswitch in Zambia—initiatives that significantly improved access and efficiency within those countries’ financial ecosystems.
In Kenya, EFT Corporation will act not only as the technology partner but also as a strategic enabler. The company is working closely with a SACCO-led working group of 20 to 25 institutions to co-design, develop, and roll out the platform. Drawing from years of experience in complex, multi-stakeholder environments, EFT will guide the process to ensure the solution is robust, scalable, and inclusive.
What’s Next
The next phase of the project will commence in Q3 2025, with a pilot programme and co-design workshops. These sessions will focus on defining key system parameters, such as wallet structures, onboarding workflows, and SACCO-specific transaction flows. These elements will be tailored to both regulatory standards and operational realities, ensuring the platform is fit for purpose from day one.
By working collaboratively with SACCOs and drawing on EFT Corporation’s deep expertise in infrastructure development, the platform is set to transform cooperative finance in Kenya, paving the way for a more inclusive, efficient, and interconnected digital future.
