Kenya Commercial Bank (KCB) is urging consumers and financial institutions to reduce the cost of digital payments, saying cheaper transactions will support the growing shift to online channels for everyday purchases, bill payments and school fees.

Angela Mwirigi, KCB’s Director of Digital Financial Services, highlighted that customers should consider not only the payment method but also the fees and extra steps involved, encouraging smarter payment habits.

The bank’s Common Cents campaign promotes moving money from a bank account to a mobile wallet before paying, and using KCB’s mobile‑banking platform to settle bills directly from the bank, eliminating an extra transfer.

KCB points to Central Bank of Kenya (CBK) data showing 95.31 million registered mobile‑money accounts in August 2026, up from 82.43 million in December 2024, yet transaction volumes have not kept pace.

CBK’s 2025 Bank Supervision Annual Report recorded a fall in monthly mobile‑money transaction counts from 309.28 million in 2024 to 217.58 million in 2025, while the total value slipped modestly from Sh753.45 billion to Sh722.53 billion.

The regulator is reviewing digital‑transaction fees, having revised maximum charges for bank‑to‑wallet transfers to between Sh11 and Sh35 depending on the amount, aiming to curb unnecessary costs.

Under the National Financial Inclusion Strategy 2025‑2028, CBK has identified lower transaction costs and broader digital‑payment usage as priority goals, including proposed caps on peer‑to‑peer fees.

Mwirigi said that smarter digital payments can save time, lower costs and give consumers clearer visibility of their spending, reinforcing KCB’s push for fee‑reduction.

Despite 83 percent of adults holding a financial account, many rural households still rely on cash, where transaction costs can reach 6.9 percent of the transferred amount, underscoring the need for cheaper digital options.