Card payments up Sh1.6bn despite corona demand slump

Central Bank of Kenya (CBK) data shows that transactions via credit, debit cards and point-of-sale (PoS) machines hit Sh165.56 billion in the first quarter of 2020 compared to Sh163.91 billion of the same period last year.

The number of deals settled through cards, however, dropped to 17.98 million in the first quarter of the year amid virus-fuelled demand slump, compared to 23.95 million in 2019 during the period.