20th-Dec-2025 • Mohamed Hassan • Crossborder Payments
Small and Medium Enterprises (SMEs) in Kenya are expanding their horizons beyond national borders. However, navigating the complex world of cross-border payments can be a daunting task. But fear not! The digital revolution has brought forth solutions that simplify this process, opening up endless opportunities for growth.
Cross-border payments are transactions that involve transferring money from one country to another. For SMEs in Kenya, these payments might be related to importing goods, paying overseas suppliers, or even expanding operations across Africa. Traditionally, such transactions could take days and incur high fees.
According to a report by the World Bank, the average cost of remittances to sub-Saharan Africa is 8.34%. This high cost can significantly eat into your profits, especially for small businesses that operate on thin margins. However, with the right payment platform, you can reduce these costs and streamline your cross-border transactions.
Digital payment platforms like Lipabiz Technologies Ltd offer a suite of services designed to facilitate seamless cross-border payments. These platforms provide real-time transaction updates, competitive exchange rates, and low fees, making international payments more affordable for SMEs.
Let's take the example of a Kenyan clothing retailer who sources materials from China. Traditionally, this retailer might have to wait several days for the payment to clear, and incur high fees due to currency conversion and intermediary charges. With a digital payment platform, this process can be completed within minutes, saving both time and money.
The future belongs to those who embrace technology. As a small business owner in Kenya, you have the power to compete on a global scale. By leveraging digital payment platforms for cross-border transactions, you can reduce costs, accelerate payments, and focus on what truly matters - growing your business.
Don't let complex payment processes hold you back. Embrace the future of cross-border payments and unlock endless growth opportunities for your SME in Kenya.