A consortium of Kenya’s leading Savings and Credit Cooperative Organizations – SACCOs is coming together to co-create a shared digital payments platform. This platform aims to transform how cooperatives deliver financial services. The initiative, announced during the EFT Connect: Kenya forum in Nairobi, brought together SACCO leaders, regulators, and fintech enablers to chart a new path for cooperative finance infrastructure.
While SACCOs have made commendable progress in embracing mobile money and digital channels. Many remain outside the National Payment System [NPS] and they are not licensed as Payment Service Providers [PSPs]. This has limited their ability to issue cards, settle transactions directly, or innovate independently without relying on commercial banks or third-party intermediaries.
The shared platform will change that.
“This initiative is about enabling SACCOs to take ownership of their digital future.” Said Catherine Korsten, Chief Commercial Officer at EFT Corporation, the initiative’s technical partner.
“By building this infrastructure together, SACCOs can scale sustainably and serve members more efficiently.”
Unlocking SACCO Potential Through Collaboration
The proposed platform enables real-time transaction interoperability and connects directly to the NPS. It also supports SACCO-specific services such as shared agency banking, streamlined member onboarding, and automated reconciliation features that are often fragmented or outsourced in current setups.
Many SACCOs continue to rely on manual processes like cheque clearing, wire transfers, and inconsistent KYC methods. A shared infrastructure would help harmonize these systems, reduce operational costs, and increase compliance with regulatory standards. It also addresses the sector’s broader challenge: fragmented digital tools that don’t communicate with each other and limit scalability.
The platform offers tailored features including multi-wallet support, automated settlement mechanisms, and scalable integration options. Importantly, it complements rather than replaces existing SACCO systems while creating a unified foundation for digital growth
What’s Next
A SACCO-led working group of 20–25 institutions will guide the platform’s design. They will be supported by a pilot programme launching in Q3 2025. Initial co-design workshops will focus on wallet design, onboarding workflows, and system integration. They will reflect the operational realities of Kenya’s SACCOs.
This initiative marks a major step toward leveling the digital playing field for cooperatives and strengthening their role in Kenya evolving financial ecosystem.
