Kenswitch launches Kenya domestic card scheme, banks can issue cards on local network

Kenswitch unveiled its Kenswitch Card on Tuesday, September 22, 2026, at Strathmore University in Nairobi, enabling banks and financial institutions to issue physical and virtual cards through its network. The launch, done with TAI FINTECH and Stanchion Payments, expands Kenswitch beyond payment switching to full card issuance and acceptance, leveraging over 2,200 ATMs, 50,000 PoS terminals, and 80,000 agent outlets. Cards can be issued instantly, frozen/unfrozen, generate dynamic security codes, and authenticate online via app or email. Pricing and which banks will issue remain undisclosed.

For Nigerians, this highlights a growing trend of domestic card schemes that keep payment infrastructure and revenue locally—mirroring Nigeria’s AfriGo, which by September 2025 had issued over 1 million cards processing about ₦70 billion ($52.8 million). As Kenya’s mobile money still dominates (94.4 million accounts, KES 728.7 billion in cash‑in/out July 2026), the new scheme offers banks an alternative to Visa and Mastercard, potentially lowering costs and boosting local transaction retention.

Nigerian financial institutions and policymakers should watch Kenya’s execution for lessons on local card rollout, consider how domestic schemes might complement AfriGo, and evaluate whether similar partnerships could reduce reliance on international networks for naira‑denominated payments. With smartphone penetration at 92.9% in Kenya (Dec 2025) and growing, virtual card adoption via Tap‑to‑Pay is a viable path to explore.

SOURCE: https://techcabal.com/2026/09/24/kenswitch-launches-local-card-for-kenyan-financial-institutions/