EFT Corporation, a top African fintech solutions provider, processing over $33 billion in digital transactions yearly, has partnered with several of Kenya’s leading SACCOs to develop a shared digital payment platform. This strategic collaboration was officially announced during the EFT Connect: Kenya 2025 event in Nairobi, where fintech innovators, regulators, and cooperative finance leaders gathered to shape the future of financial infrastructure in Kenya.

Despite growing adoption of digital payment solutions, many SACCOs still lack PSP licenses and are yet to integrate with Kenya’s National Payment System (NPS). This has limited their ability to issue cards, enable direct electronic payments, and expand fintech-driven financial services without relying on traditional banks.

“We’re empowering SACCOs to define their digital future. Through this shared fintech platform, they gain sustainable, scalable infrastructure built for their needs.”
– Catherine Korsten, Chief Commercial Officer, EFT Corporation.

Unlocking SACCO Potential Through Shared Fintech Infrastructure

Many SACCOs already utilize real-time payment systems such as Mobile Money, ATM networks, and third-party payment gateways. However, these fragmented systems bring complexity, additional costs, and operational inefficiencies.

A shared SACCO payment infrastructure simplifies connectivity, reduces dependence on external providers, and enhances operational autonomy.

Key fintech pain points still exist, such as manual cheque clearing, wire transfers, and reconciliation handled by banks. Similarly, KYC verification and digital onboarding range from modern, API-based tools like IPRS integrations to paper-based processes at SACCO branches.

The result is a financial sector that is digitally active but lacking full autonomy — highlighting the urgent need for integrated payment solutions that enable SACCOs to participate directly in the national payments ecosystem and scale efficiently.

A SACCO-Built, SACCO-Led Fintech Platform

The platform will deliver real-time transaction interoperability, allowing SACCOs to connect directly to the National Payment System (NPS) without third-party dependencies.

Planned features include:

• Shared agency banking networks
• Automated clearing and reconciliation processes
• Streamlined KYC and onboarding workflows
• SACCO-specific fintech tools like multi-wallet accounts and automated settlement engines

Rather than replacing existing core banking systems, this fintech payment platform will serve as an enabling layer, helping SACCOs innovate independently while enhancing service delivery and improving financial inclusion across Kenya.

EFT Corporation’s Fintech Enablement Across Africa

With a strong track record in building national payment infrastructure, EFT Corporation has powered platforms like Zimswitch in Zimbabwe and Eswitch in Zambia—trusted, scalable, and regulator-compliant systems that advance financial inclusion.

In Kenya, EFT will act as the technology partner and fintech infrastructure enabler, collaborating with a working group of 20–25 SACCOs. The company brings deep expertise in designing and deploying multi-stakeholder payment ecosystems in rapidly evolving markets.

🚀 What’s Next: Pilot Programme & Co-Design Sessions

The next steps include a pilot phase and collaborative product co-design workshops, beginning in Q3 2025. These sessions will focus on:
✔ Defining wallet ecosystems
✔ Designing SACCO-friendly onboarding processes
✔ Building compliance-ready, user-centric transaction flows

SACCOs ready to be part of this transformational fintech project are invited to reach out to EFT Corporation for collaboration opportunities.