By Nzola Miranda
NAIROBI, Kenya, July 28 – There was a time when cash was king. But that kingdom is quickly fading, and in its place stands a new order that is faster, safer, and more transparent.
Across Kenya, from bustling matatus to the smallest corner kiosks, the steady hum of mobile money transactions has become part of daily life. It’s not just a convenience anymore; it’s slowly turning into an expectation.
Without a doubt, Kenya’s embrace of a cashless economy is one of Africa’s most remarkable digital success stories. Communications Authority of Kenya recently reported that by March 2025, mobile money subscriptions had reached 45.36 million accounts, close to 80 percent of Kenya’s adult population.
This reinforces mobile money’s role as a fundamental pillar of the Kenyan economy, fuelling everyday transactions and empowering those previously excluded from formal financial systems.
This surge is underpinned by both rising daily use and a thriving fintech ecosystem. Kenya, already a global reference point in this space, owes much of its momentum to M-PESA, Safaricom’s flagship service.
Launched nearly two decades ago, the platform has transformed from a basic peer-to-peer transfer tool into a daily life companion that facilitates bill payments, grocery purchases, and even the disbursement of microloans. In 2024, the volume of mobile money agent transactions exceeded KSh 8.7 trillion, signalling that the country is decisively moving away from physical cash.
At the heart of this transformation is access. With over 17 million Kenyans owning smartphones and internet connectivity reaching more than 40 million users, the nation is firmly plugged into the web. This connection fuels more than social media chatter; it accelerates commerce.
Customers can now browse digital marketplaces, compare options in real-time, and settle payments instantly, all from their pockets or with just a few clicks.
It’s not only mobile money that’s thriving. The adoption of debit and credit card payments through platforms like Visa and Mastercard is steadily growing, particularly in urban centres and among tech-savvy SMEs.
Banks have rolled out sleek apps that let users link cards to their phones, creating a seamless bridge between traditional banking and digital wallets.
As businesses—large and small—recognise the value of staying relevant, competitive, and trusted, they are embracing this trend: adopting unified payment gateways that accept everything from QR codes to tap-and-go cards.
At its core, going cashless is about trust. When customers pay digitally, they feel safer. There’s a record of every transaction, a receipt, and an audit trail that holds everyone accountable. For businesses, this translates into fewer cash-handling errors, reduced theft risk, and a faster path to service delivery.
When a customer no longer has to fumble for exact change, wait in a crowded line, or worry about counterfeit notes, their experience improves. And when that experience is consistent and transparent, loyalty grows.
That’s why more forward-thinking brands are boldly stepping into the cashless era. MultiChoice Kenya is one of them.
In a bold move this week, MultiChoice Kenya announced that it has fully embraced a cashless system. At first glance, this change may appear minor, but its effects are significant. By transitioning exclusively to digital payment methods, MultiChoice can reduce queuing times, streamline customer support, and align its processes with the online lifestyles that its viewers already embrace.
This shift reflects what customers want. For instance, when a parent can renew their family’s DStv subscription on M-PESA while waiting in traffic, that's true convenience. When payments can be made through a secure app without the need for standing in line, that's a matter of
dignity.
These everyday interactions accumulate, building something enduring: a smoother and safer partnership between the company and its customers. Trust breeds growth, and growth in turn fosters more trust. As the cashless ecosystem matures, new services are emerging, including instant loans based on transaction histories, merchant analytics platforms, and loyalty programs that reward digital spending.
For millions of Kenyans, a cashless economy has transitioned from being a buzzword to a daily reality, bringing more individuals into the formal financial fold and reducing the opacity of the informal economy. As the country continues to advance, the companies that pay attention, adapt their offerings, and grow alongside their customers will be those that thrive.
We are witnessing a fundamental shift, not just a fleeting trend. How we live, work, and interact with one another is being rewritten, one digital transaction at a time. Throughout this change, brands that lead with trust and convenience will be recognised not merely for leaving cash behind but for prioritising people in an increasingly digital world.
The writer is the Managing Director at MultiChoice Kenya
