Exploring Kenya’s Surging eCommerce Market
As of 2021, Mexico had 89.5 million internet users, which accounted for 75.7% of the population over six
Cash remains a major payment method in Mexico. In 2021, it was the most commonly used payment method for purchases under MXN500 ($24.79), with 90.1% of Mexicans (75.4 million people) using cash, 6.2% using debit cards, 1.2% using credit cards, and 2.1% using other payment instruments.
Security concerns and a large informal sector are obstacles to Mexico's digital ecosystem
Mexico's internet users predominantly use smartphones to access the internet, with 98% relying on them for connectivity
Only 22% of Mexico's internet users buy goods online, and just 17.6% conduct banking operations online
30% of Mexico's internet users are concerned about online fraud, and 28% are not willing to share banking information online
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In 2023, eCommerce user penetration will hit 46.7%. By 2027, that figure is estimated to reach 63.9%. |
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Approximately 24% of the population bought at least one product from an online platform in 2021. |
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Revenue in eCommerce is expected to show an annual growth rate (CAGR 2023-2027) of 6.03%, with a projected market volume of US$3,527.1 million by 2027. |
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Total transaction value in the Digital Payments market is projected to reach US$8,508.00m in 2023. |
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Electronics and media is the largest market in Kenya, accounting for 41.8% of eCommerce revenue. Fashion is the second largest market accounting for 34.3% of revenue. |
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The average revenue per user (ARPU) in Kenya’s eCommerce market is expected to be US $108.70 in 2023. |
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The number of users in the eCommerce market is expected to reach 38.07 million by 2027 — an overwhelming majority of the current population of 55 million. |
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In 2023 Kenya's internet penetration rate stood at 32.7%. |
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The number of social media users in Kenya was equivalent to 21.1% of the total population in 2022. |
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The credit card penetration in Kenya is forecast to continuously increase between 2023 and 2028 to 10.1%. |
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MassPay prioritizes flexibility and security, offering hyper-localized payment options to ensure customers can pay the way they prefer. We offer a broad range of payment options including online bank transfers, mobile wallets and prepaid cards.
MassPay is a reliable option for merchants looking to expand their business into Kenya’s eCommerce market. Our solutions provide eCommerce merchants with comprehensive payment options and services to get them up and running quickly.
Rest assured, when customers pay through an eCommerce platform powered by MassPay, their data is encrypted and stored on local servers to increase security and reduce the risk of fraud.
We also offer a range of payout solutions including mobile wallets, prepaid cards, and online banking transfers, to ensure your payees get the best experience possible.
Single-point integration to sidestep the challenges of managing multiple payment gateways
Ultimate sales strategy control with the tools to craft and execute a tailored sales approach
Payment preferences (in local currency)
Your customers expect payment options to match local preferences.
MassPay recognizes the value of providing local currencies to build stronger relationships with consumers, employees and partners. Whether it’s Kenyan shillings (KES), US dollars (USD), or any other locally preferred alternative, MassPay has you covered.
Security and state-of-the-art technology
The Kenyan government has made it a priority to grow the country’s digital infrastructure. As more Kenyans adopt preferences for online shopping there is a need to ensure consumers are protected from threats.
MassPay boasts state-of-the-art security measures to protect businesses from fraud and losses due to chargebacks or failed payments. We use advanced encryption technology for data protection and complies with the highest security standards.
Payouts
Merchants can send payouts to customers efficiently with MassPay’s end-to-end payment services. Eliminate long wait times that slow down your business, Help your customers receive payments in their choice of local currency instantly and securely.
Optimized payment processing
Ensure seamless payment processing with MassPay. Accept customer payments quickly and securely, and increase your leverage in Kenya’s eCommerce market.
MassPay provides hyper-localized payment orchestration solutions tailored to your needs, ensuring seamless integration and optimizing your payment and payout strategies.
Download The Complete Guide to Payout Orchestration (URL) to discover how MassPay's cutting-edge technologies and trends can help you streamline your payout processes and optimize your payment strategy.
Get ready to revolutionize your payments in Kenya with MassPay!
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All of your payout operations are accessible from an easy to access, easy to use dashboard that is available wherever you are with whatever device(s) you prefer.
Bank transfers
One of the most popular payment methods in Kenya are bank transfers. As more Kenyans become integrated with banking institutions, consumers are taking advantage of the option to make payments for e-commerce purchases directly from their bank account.
Digital wallets
Digital wallets, or e-wallets make digital payments more convenient and secure across Kenya.
The push for digital transformation is providing Kenyans with a convenience and accessible option for making payments.
Direct Pay Online (DPO)
Direct Pay Online (DPO) has been operating across Africa. This online payment method allows customers to pay with their currency of choice, via Direct Pay Online.
DPO offers mobile money transfers and an option to add debit and credit cards.
Mobile Money Services (MMS)
Mobile money services like M-Pesa have become widely used in Africa. These have become a preferred solution for unbaked populations due to its convenience. With more and more of the population using smartphones, mobile services have become a gateway to online purchases.
A bank account is not required for MMS. It works as a pay-as-you-go medium using your mobile bank account.
Credit cards
Credit card usage has steadily grown in Kenya. From 2023 to 2028, credit card penetration will have increased for five consecutive years to reach 10.1%.
MassPay’s platform is equipped to process card payments, including Visa and Mastercard.
Cash on delivery (COD)
Cash on delivery is one of the most popular online payment types in Kenya. This payment method facilitates cash payments to the delivery person upon receiving their product.
COD has become a primary method for many new online users. It is a secure method for customers who don’t feel comfortable entering their card details or making a digital wallet payment.
Cash pickup
Cash pickup is one of the most popular payout options in Kenya. This method of money transfer lets the receiver pick up cash from partner locations including Kenya Commercial Bank, Kenya Post Office Savings Bank, and SBM Bank.
Cash pick is commonly used for recipients who may not have access to bank accounts or other digital payment methods.
Mobile Money Services
Leverage mobile money platforms like M-Pesa and Airtel Money to send money to the top cash pickup locations and banks in Kenya. Payouts can be received as mobile money balances and withdrawn as cash or used for other transactions.
Direct bank transfer
Another common payout option is the direct bank transfer. This method offers a secure and efficient way to move money between accounts and eliminates the need for physical cheques.
MassPay helps you make bank deposits to all major banks, including Equity Bank.
Online payment platforms
Utilize online payment platforms to send money electronically. MassPay leverages platforms and links to bank accounts, credit cards and digital wallets.
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