Elan

The popularity of mobile phones and plastic for financial transactions is rising in Kenya, while the use of ATMs is falling. But that's not the whole story: The total value of ATM transactions has actually grown in the past year by more than 12 percent.

An article by Business Daily Africa quoted data from the Central Bank of Kenya, including the fact that the number of ATMs and ATM cards had increased modestly since 2010, from 2,217 to 2,311 (about 4 percent) and from 1.35 million to 1.47 million (about 9 percent) respectively.

George Nyamao, KCB Group senior manager for ATM services told Business Daily Africa that Kenya is still heavily cash based, so ATM use would never be eliminated. "The usage of ATMs will continue to rise in the short run, with an expected stagnation at some stage as direct electronic transfers become more popular," he said.

Nyamao said many banks were adding services to increase the utility of their machines. 

For more on this topic, visit the trends/statistics research center.

Related Content

User Comments – Give us your opinion!
Products & Services

ATM Cassettes

http://global.networldalliance.com/new/images/products/791.png

791/ATM-Cassettes

Repair Center

http://global.networldalliance.com/new/images/products/4105.png

4105/Repair-Center

KTC – Kalignite Terminal Controller System

http://global.networldalliance.com/new/images/products/Kalignite_KTC_100.gif

3735/KTC-Kalignite-Terminal-Controller-System

Regulation and Compliance

http://global.networldalliance.com/new/images/products/6903.png

6903/Regulation-and-Compliance

Walk Up ATM - Monimax 5100T

http://global.networldalliance.com/new/images/products/nautilus_5040.gif

784/Walk-Up-ATM-Monimax-5100T

Fraud Protection System

http://global.networldalliance.com/new/images/products/4255.png

4255/Fraud-Protection-System

ECS Enhanced Card Security Anti-Skimming Device

http://global.networldalliance.com/new/images/products/4909.png

4909/ECS-Enhanced-Card-Security-Anti-Skimming-Device

Fire Safety

http://global.networldalliance.com/new/images/products/6057.png

6057/Fire-Safety

KAL Kalignite Software Platform

http://global.networldalliance.com/new/images/products/Kalignite_Software_Platform.gif

740/KAL-Kalignite-Software-Platform

Terminals

http://global.networldalliance.com/new/images/products/5789.png

5789/Terminals

NCR
Media Kit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.