FinTech is the short form of (financial technology). Fintech is anywhere technology is applied in financial services or used to help companies manage the financial aspects of their business, including new software and applications, processes, and business models.
Kenya is among the top 3 African countries which are innovators in the financial sector followed by South Africa and Nigeria.
Apart from M-Pesa, which is the most popular fintech service in the region, the increasing numbers of small businesses have motivated companies to develop electronic payment methods and financial planning tools.
The technology allows thousands of businesses in Kenya, Uganda, and Tanzania to view their transaction history and issue receipts.
Most Fintech innovations allow for payment of low-value card transactions with ease, speed, and convenience.
List of Popular Fintech companies in Kenya
Kenya is the most attractive market in Africa for workers in the fintech industry. New data shows that companies in Kenya pay the highest salaries in comparison to other countries. below is a list of some of the favorite fintech companies in Kenya
1. 3G Direct Pay Group
3G Direct Pay Group is a company that offers e-commerce solutions by providing merchant services to businesses in Kenya, Zambia, Tanzania, Uganda, Rwanda, Zanzibar, Malawi, Mozambique, South Africa, Namibia, and Ethiopia. It accepts all major credit cards, mobile money, and e-wallets.
Abacus is a web building and mobile software developer that helps investors across the globe access African financial markets. The company makes it possible for both local and international investors to research and invest, anytime, anywhere.
BambaPOS is a low-cost, easy-to-implement point-of-sale and inventory management solution that aims to solve most merchant automation challenges.
Bitsoko is an Android blockchain-based mobile wallet.
5. Branch International
The branch is a new way to access credit over a smartphone in Kenya. Customers need to fill out an application for an affordable loan that is delivered directly to their mobile money account.
The Branch app offers personalized, responsive customer support that meets the needs. It is one of the many mobile money lending apps in Kenya.
Chura is an airtime service provider that enables buying of airtime across networks, and Mass airtime service enables companies to supply airtime to their employees at a click of a button.
ConnectAfrica is a B2B technology solution connecting various payment networks. Members of the hub can facilitate cross-network transfers.
Targeted members are e-wallet providers, banks, payment service providers, and many more.
8. Eclectics International
Eclectics International offers tailor-made software for the banking and financial sector. The company conducts complex systems audits and evaluations for purposes of recommending their effectiveness and deployment.
Eclectics has implemented ICT systems in over 20 countries and with ongoing projects in Botswana, Zambia, Ethiopia, Southern Sudan, Cameroon, Gambia, Ghana, Malawi, Rwanda, Burundi, Tanzania, Uganda, and Kenya.
9. iNuka Pap
iNuka Pap is a VAS proposition to SACCO members that enables them to access small amounts of cash advances.
It also as well other consumer services such as prepaid electricity, airtime, and insurance. iNuka Pap takes convenience to a new level and promises to address the customer’s small cash emergencies anywhere and anytime.
JamboPay is an online payment gateway that allows users to make and receive payments through mobile phones over the internet.
Through JamboPay, shoppers can pay for goods and services online while sellers can receive payments for purchases made online.
JamboPay allows for mobile payments such as M-Pesa, Airtel Money, and YU-CASH, bank payments, Visa and MasterCard debit, and credit cards.
This is a niche crowd investment platform dedicated to African companies. The platform provides individual investors around the world with access to previously untapped investment opportunities on the African continent.
Investors can buy shares online in pre-vetted startups and small businesses whose products and services are sold on high-growth consumer markets across Africa.
Lipisha offers mobile payment solutions with features, including enhanced security, integrated payment networks, payment alerts, and more.
M-Changa is a fundraiser management platform that provides cutting-edge end-to-end management tools to enhance fundraising success.
14. Packline Systems
Packline Systems offers financial-based software services to leading financial institutions around, focusing on the provision of affordable state-of-the-art IT solutions for the African Financial Market.
This company has been a leading support Company and Trainer for over a decade.
This is an internet payment company with operations in Kenya, Uganda, Tanzania, and Malawi.
PesaPal solutions allow users to shop online, pay bills, and even buy airtime through a partnership with Orange Kenya. It is one of the top online payment platforms we have in Kenya.