CBK Moves to Make Bank and Mobile Money Transfers Cheaper

The Central Bank of Kenya (CBK) is planning a new national payment switch to lower transfer costs between banks, mobile money platforms, and other payment providers. This initiative, part of the August 2026 Draft National Payment System Policy, aims to enhance interoperability and enable real-time instant payments nationwide. The plan includes implementing open API standards and messaging protocols to connect different systems, with regular compliance audits. The actual reduction in fees will depend on how the system is implemented and how providers set their prices.