Safaricom Announces Major M-PESA Revamp with Fintech 2.0, Fortifying Africa's Digital Market
Safaricom, the leading telecommunications company in Kenya, has announced a significant upgrade to its M-PESA platform, marking the most comprehensive overhaul since 2015. The new upgrade, dubbed Fintech 2.0, is set to revolutionise the system, enhancing its transaction capacity and resilience.
The new core platform, Fintech 2.0, is designed to strengthen resilience, expand capacity, and unlock advanced, AI-driven innovation. With this upgrade, M-PESA's transaction capacity will increase from 4,500 to 6,000 transactions per second, with potential scalability up to 12,000. This significant improvement aims to meet the growing demands of Africa's digital news.
Dr. Peter Ndegwa, Group CEO of Safaricom, has announced an expansion of M-PESA's transaction capacity. "We are excited to unveil Fintech 2.0, a bold investment in the future of M-PESA," said Dr. Ndegwa. "This upgrade is a testament to our commitment to innovation, resilience, and customer trust."
The upgrade also introduces a cloud-native foundation for the new platform, ensuring higher performance, instant scalability, and faster deployment of new products. This modern infrastructure will enable Safaricom to deliver smarter, faster, and more secure financial solutions to individuals and businesses.
Advanced artificial intelligence will be embedded to enhance fraud detection, enable self-healing, and power real-time monitoring. The platform will adopt an active-active architecture across multiple hosting sites for increased resilience. These measures are intended to ensure the platform remains robust enough to support Africa's digital news, while maintaining its commitment to simplicity, accessibility, and inclusivity in financial services.
M-PESA has grown into Africa's largest fintech ecosystem, supporting payments, savings, credit, insurance, remittances, and e-commerce. The launch of Fintech 2.0 aims to sustain this growth and prepare the platform for the future. The migration to Fintech 2.0 lays the foundation for the next generation of innovation.
The upgrade is part of M-PESA's 18-year journey of driving financial inclusion and digital transformation. By moving to Fintech 2.0, M-PESA's platform is expected to scale to meet current demands and anticipate future news. This significant step reaffirms Safaricom's commitment to innovation and its role in shaping the digital future of Africa.
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