EFT Corporation, an African payment solutions provider, is collaborating with a number of Kenyan Savings and Credit Cooperative Organisations (SACCOs) to develop a shared digital payments platform.
The statement was made at the EFT Connect: Kenya event, which took place in Nairobi in May 2025 and brought together regulators, SACCO executives, and fintech enablers to discuss the future of cooperative financial infrastructure.
EFT Corporation, a South African-founded fintech company, stated that while SACCOs have made significant progress in adopting digital tools, many have yet to be licensed as payments service providers or integrated into Kenya's National Payment System, preventing them from issuing cards, processing transactions directly, or scaling digital services without the use of bank intermediaries.
As a result, the fintech said proposed platform will provide real-time interoperability for transactions and enable SACCOs to connect directly to the National Payment System.
“This initiative is about enabling SACCOs to take ownership of their digital future,” says 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.”
In a statement EFT Corporation said: “It (platform) will also support shared agency banking, streamlined on-boarding and more efficient clearing and reconciliation processes.
“In addition, the platform will introduce flexible, SACCO-specific tools such as multi-wallet structures and automated settlement mechanisms, designed to scale with each institution’s needs.
“This initiative is not intended to replace existing systems, but rather to serve as a foundational infrastructure layer that enhances current capabilities and enables SACCOs to innovate more independently.”
EFT Corporation has played a pivotal role in shaping national payment infrastructure across Africa.
From Zimswitch in Zimbabwe to Eswitch in Zambia, the company has delivered secure, scalable, and regulator-aligned platforms that expand access and enable financial inclusion at scale.
In Kenya, EFT Corporation said it will act as both the technology partner and strategic enabler of the SACCO payments platform.
Working alongside a SACCO-led working group of 20 to 25 institutions, the company will guide the platform’s design, development, and implementation, drawing on its experience of building multi-stakeholder infrastructure in similarly dynamic markets.
EFT Corporation said a pilot programme and product co-design sessions are set to begin in Q3 2025.
It said: “These initial workshops will focus on defining wallet parameters, on-boarding processes, and SACCO-specific user flows in line with both regulatory and operational requirements.”
SACCOs interested in joining the working group or participating in the pilot phase are encouraged to contact EFT Corporation directly.
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