EFT Corporation Partners with Kenyan SACCOs to Launch Shared Digital Payments Platform
EFT Corporation, a pan-African payments technology company serving over 100 million users and processing more than $33 billion in transactions annually, has announced a major partnership with some of Kenya’s leading Savings and Credit Cooperative Organizations (SACCOs).
Together, they will co-develop a shared digital payments platform aimed at enhancing SACCOs’ autonomy, scalability, and participation in the national payments ecosystem.
The announcement was made during the EFT Connect: Kenya event held in Nairobi in May 2025. The forum brought together regulators, fintech innovators, and SACCO leaders to discuss the evolving role of cooperative financial institutions in the digital age.
While many SACCOs have adopted digital tools, most remain unlicensed as Payment Service Providers (PSPs) and are not integrated into Kenya’s National Payment System (NPS). This limits their ability to issue cards, process transactions directly, or scale without depending on banks.
“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.”
A shared digital infrastructure is expected to reduce the complexity and cost associated with relying on third-party providers. Many SACCOs still use manual systems such as cheque clearing, bank-led reconciliations, and non-standardized KYC procedures.
The new platform will streamline these processes, ensuring interoperability, real-time transactions, and direct connectivity to the NPS. It will also offer SACCO-specific tools like multi-wallet accounts and automated settlement features.
EFT Corporation has a long history of building national payments systems across the continent, including Zimswitch in Zimbabwe and Eswitch in Zambia. In Kenya, EFT will serve both as the technology partner and strategic enabler, working with a SACCO-led taskforce of 20–25 institutions to guide the platform’s design and implementation.
A pilot phase is set to begin in Q3 2025. Co-design workshops will define wallet structures, onboarding processes, and SACCO-specific user experiences in line with regulatory requirements. SACCOs interested in participating in the pilot or joining the working group are encouraged to contact EFT Corporation directly at eftcorp.com/contact-us.
