Network Launches New Solutions for Digital Payments, Empowering Kenyan Businesses

Network, a digital payment organization, has introduced innovative solutions for online and mobile payments, aimed at providing enhanced services to traders while equipping businesses with the latest technologies for growth and development.

During the launch, Ronald Inyangala, Deputy Director of Financial and Sectoral Affairs at the National Treasury, lauded Network as a key player in expanding access to digital payments across all trader levels. He highlighted how the platform offers new opportunities for the diaspora community, enabling more efficient business transactions.

Inyangala also emphasized Network’s global Point of Sale (POS) payment capabilities, which allow tourists visiting Kenya to make purchases such as local artefacts using digital payments.

Reflecting on Kenya’s commitment to a cashless economy, Inyangala pointed to the National Payment Strategy launched by the Central Bank of Kenya on February 23, 2022. The strategy aims to accelerate secure and efficient digital payments in line with International Standards Organisation’s 2022 policies on payment processing and data security.

“The government is keen to introduce new players into the payment gateway space to promote competition and enhance service delivery,” Inyangala said, stressing that seamless mobile and card payments are crucial for boosting commercial growth and strengthening the country’s economy.

He also noted that the adoption of digital payments for government services has streamlined revenue collection, with over 16,000 services now operating online and cashless.

Judy Waruiru, Regional Managing Director of Network, highlighted the importance of digital payments in daily life. She revealed that Kenya currently has around 55,000 POS devices, which cover only a small portion of the country's retail and SME sectors.

Waruiru pointed to the National Payment Strategy for 2022-2025, which focuses on modernizing Kenya's payment infrastructure and raising awareness of digital payment options. She highlighted the Central Bank of Kenya's 2023 launch of the Kenya Quick Response Code (QR) standard—a framework for standardizing QR code payments. This system allows consumers to make mobile or card payments at any business, regardless of the payment provider, using a phone camera.

“The QR code solution has the potential to revolutionize how people pay, from large businesses to street vendors,” Waruiru said, adding that Network’s goal is to empower merchants and businesses with cutting-edge payment technologies.

“Our purpose is to help businesses and economies thrive by simplifying commerce and payments,” she concluded.