Kenya’s draft National Payment System Bill 2026 adds open-finance duties and new licences: comments close on 9 October

Kenya’s draft National Payment System Bill 2026 adds open-finance duties and new licences: comments close on 9 October

2 October 2026: Kenya's National Treasury and the Central Bank of Kenya (CBK) published a draft National Payment System Policy and a draft National Payment System Bill, 2026 on 21 September 2026. The bill would replace the National Payment System Act, the law under which M-PESA, banks' payment services and Kenya's payment fintechs operate today. The CBK has posted comment templates, and according to Techweez comments can be sent "until October 9, 2026".

What the bill would change

According to Techweez's reading of the draft:

• Open finance. Banks, mobile-money operators and payment providers would have to build systems to share customer transaction data securely with licensed third parties when the customer consents.
• Two new licence classes: payment initiation service providers and account information service providers.
• Minimum capital by licence class, including KES 250 million for electronic-money issuers; KES 50 million for e-wallet providers, merchant acquirers, card schemes and switching and clearing systems; KES 30 million for money remitters; KES 20 million for payment messaging operators; KES 10 million for payment gateways; and KES 5 million each for payment initiation and account information providers.
• One year to comply after the law takes effect.

Business Daily reported on 1 October that the draft would also let the CBK inspect payment firms without notice, remove officers and appoint directors.

The CBK is holding public forums between 28 September and 9 October in Mombasa, Kisumu, Nakuru, Nyeri, Meru, Kitale and Nairobi.

Who should respond

• Payment service providers and fintechs in Kenya: check which licence class your business would fall into and whether you meet its capital level.
• Banks and mobile-money operators: the open-finance duty means building and running consent-based data-sharing interfaces, with cost and security implications.
• API, identity and core-banking vendors selling into Kenya: the bill creates demand, and your clients will ask what you support.
• Foreign payment firms with Kenyan customers: check whether you would need a local licence.

What to do

Download the CBK's comment template, read the policy and bill, and send comments by 9 October. Attend the Nairobi forum if you can, and record the capital and timing issues that affect you.

Sources

• Central Bank of Kenya: Draft National Payment System Policy and National Payment System Bill, 2026 - 21 September 2026
• Techweez: Kenya’s National Payment System Bill 2026 - 22 September 2026
• Business Daily: CBK seeks power to raid, oust top bosses at payment firms - 1 October 2026
• Bowmans (via Polity) - 2 October 2026