“Our study confirms that not only is there a huge appetite for new ways to pay, but consumers overwhelmingly want to use their mobile phones. In fact, many are ready to do so right now. For decades, payment cards have been the only reasonable alternative to cash – but consumers are saying loud and clear that they want digital innovations in all areas of their life,” says Daniel Monehin, President, Middle East and Africa, Mastercard. Consumers demand more innovation in crucial areas Consumers in Kenya are very positive regarding digitalization and especially about the impacts of innovation on society. Eighty-six percent of Kenyans believe that digital tools will be used more often by more people. They believe digital innovation will be very important for public transport, healthcare and education in the country in the future. “Kenya has a high rate of adoption when it comes to mobile technology. This, coupled with the positivity towards digitalization displayed in this research, points to a deep understanding by Kenyans of the positive socio-economic effects which innovation and digitalization can have on the development of the country’s economy,” says Monehin. While enthusiastic about innovation, consumers in Kenya want to feel secure, especially when it comes to making payments. Consumers unanimously agreed that they wanted to feel that their bank account was secure, followed by the safety of their personal data. They also value the speed and simplicity that the payment processes provide. In Kenya mobile payment apps are considered to be convenient and time-saving, however users have expressed concern about security. Other barriers to the use of mobile payment apps by Kenyan consumers are their perceptions on hidden costs, reliability issues and infrequent updates. “In previous years many consumers told us that they had a negative or neutral view of digital innovation. But this Survey shows a major shift in consumer behaviour. People across the diverse countries surveyed want a digital lifestyle and think it will benefit their lives. We at Mastercard are listening to consumers about what types of innovation they want to see more of –it’s extremely exciting to see the pace and appetite for change in Kenya and across the various markets,” concluded Monehin. ]]>
