Wallet market size in e-commerce Kenya 2028

Digital wallets are expected to take up 70 percent of total transaction value processed in Kenya e-commerce by 2028, all coming from non-card-linked wallets. This is according to hybrid research released in 2024, which - depending on the country - either used database modeling or data acquired via a consumer survey. The results are relatively surprising, as wallets were not a popular online shopping payment method in Kenya. That said, the penetration of digital payments in Kenya was much higher than that of other African countries, likely due to the presence of mobile money and M-Pesa.

Value of transactions with card-linked and non-card-linked wallets in online shopping in Kenya in 2023, with a forecast for 2028

Characteristic	Transaction value in billion U.S. dollars (2023)	Transaction value in billion U.S. dollars (2028)	CAGR 2023-2028
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Release date

March 2024

More information

Region

Kenya

Survey time period

2024

Number of respondents

750 per country

Special properties

Figures have been calculated by Statista, but originate from different sources depending on the country. See the "Details" tab for more information.

Method of interview

Online survey

Supplementary notes

The source shares data for 37 countries and territories across the world. Most of these come from a database from Juniper Research. 14 countries, however, did receive a separate survey. These countries are: Brazil, China, Colombia, India, Indonesia, Japan, Malaysia, Nigeria, Philippines, Saudi Arabia, South Korea, the terrority of Taiwan, Thailand, and Vietnam. The source does not add why this was the case.

This separate survey asked 750 e-commerce payments users in each of the 14 countries, leading to 10,500 respondents in total. The source adds that results were not weighted, and participants were incentivized to do so.

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