Safaricom Plc is overhauling its M-PESA platform to process up to 12,000 transactions per second, up from 4,500 today, in its largest upgrade in a decade.
The new Fintech 2.0 core, announced Friday, introduces a cloud-native, AI-powered system designed to cut downtime, expand capacity, and speed up product rollout. It also embeds real-time fraud detection and self-healing tools.
M-PESA, used by 34 million Kenyans, generated 161 billion shillings ($1.25 billion) in revenue in the year to March and has lifted financial inclusion to 83.7% of adults, from 26.7% in 2006. Safaricom, Kenya’s biggest company by market value, posted 388 billion shillings in revenue last fiscal year.
“This upgrade is a bold investment in the future of M-PESA,” CEO Peter Ndegwa said in a statement. “The platform not only scales to meet today’s demands but also anticipates tomorrow’s opportunities.”
The overhaul comes as Safaricom pushes deeper into digital finance across East Africa, including Ethiopia, where its unit is expanding mobile services.