There have been several surveys done over the recent years that has studied our Kenyan market as well as other countries globally. As countries continue developing the rise to the digital era, Kenya has adjusted to digital services quite fast. After the survey that was done by the Mastercard Impact and Innovation study it was shown that mobile phones have become our most beloved gadget. There is a high demand for digital solutions in the country as the survey showed that 90% of consumers in Kenya use their mobile phones. Since M-pesa came about many Kenyans prefer using mobile payments. Traditional desktops have reduced to 70% while laptop penetration is currently at 90%.
The Mastercard innovation study surveyed 23,000 consumers in 23 countries across Europe, Africa and Middle East. You would think that Western Europeans would prefer a mobile payment system more than Africans and Middle East people but instead most Europeans would prefer the traditional payment system. Over 70% of people in Africa and Middle East preferred the mobile payment system. It was also found that many people would still rather use a mobile phone as opposed to the traditional card payment system. After the survey results it became apparent that people would are hungry for new digital payment methods. For a while now, the only other alternative for cash has been a card but it seems that consumers want digital innovations in all areas of their lives.
As for the Kenyan market, majority of the population believe that digital innovation will be very important for public transport, healthcare and education in the future. The fact that Kenya already has a high rate of adoption when it comes to technology will have a great impact on the socio-economic growth in the country. Breach of security has always been a concern in most countries when it comes making payments. In Kenya, consumers want to feel secure, especially when making payments. Despite the security concerns, Kenya has developed payment apps and methods that are not only convenient but time saving.