Kenya: Kenswitch launches a national bank card to reduce dependence on Visa and Mastercard

The Kenyan payment switch Kenswitch introduced the Kenswitch Card on September 24, 2026, at Strathmore University in Nairobi. According to TechCabal, this is a domestic card system that allows the country's banks and financial institutions to issue physical and virtual cards on a local network. The project was developed in partnership with TAI FINTECH and Stanchion Payments.

A local network rather than foreign circuits

Until now, cards issued in Kenya have primarily relied on major international networks like Visa and Mastercard. With its own scheme, Kenswitch, described by TechCabal as the country's largest independent payment switch, aims to provide local institutions with an alternative. The company already leverages a network of over 2,200 ATMs, 50,000 payment terminals, and 80,000 agent points.

For its Managing Director, John Mukono, this is about preparing the local ecosystem for the future of "tokenized and digital payments." Kenswitch states that it is exploring partnerships with phone manufacturers to enable contactless payments directly from a smartphone.

A market dominated by mobile money

The challenge is significant in the land of mobile money. According to figures cited by TechCabal, as of July 2026, Kenya had approximately 11.16 million debit cards, 2.26 million prepaid cards, and 340,852 credit cards, compared to 94.4 million registered mobile money accounts. Nevertheless, card usage is growing: debit cards have increased by 4.2% and prepaid cards by nearly 20% since January.

The initiative is part of a continental movement toward payment sovereignty. Nigeria has launched its own national scheme, AfriGo, which has already issued over a million cards, TechCabal notes. Keeping transaction management on the continent also means reducing fees paid abroad and better controlling citizens' financial data.

What remains to be clarified

Kenswitch has not yet announced the pricing for its card or the list of banks and institutions that will issue it. The project's success will depend on their adoption and the new network's ability to convince consumers who are accustomed to paying with their phones.