11th-Jan-2026 • Alice Wambui • Crossborder Payments
In today's interconnected world, the potential for Kenyan Small and Medium Enterprises (SMEs) to expand their horizons beyond local borders is vast. However, managing cross-border payments can often prove a daunting task, hindering growth opportunities. Lipabiz Technologies Ltd, your trusted business management partner, sheds light on the benefits of streamlined cross-border payments for SMEs in Kenya and Africa.
Cross-border payments facilitate global commerce by enabling businesses to send and receive funds across international borders swiftly and securely. The World Bank reports that mobile money transfers grew at an annual rate of 41% between 2014 and 2019, highlighting the increasing importance of digital payment solutions for SMEs.
Traditional cross-border payment methods can be fraught with complex processes, high fees, and slow turnaround times. In contrast, modern platforms like Lipabiz offer user-friendly interfaces, competitive exchange rates, and quick settlements, reducing the hassle for SME owners.
Streamlined cross-border payments enable SMEs to focus on their core business operations instead of grappling with complex payment procedures. By automating payment processes, businesses can reduce manual errors and improve overall efficiency.
Cross-border payments open up new markets for SMEs, allowing them to tap into previously untouched customer bases. By offering flexible payment options that cater to various regions and currencies, businesses can compete effectively on the global stage.
A shining example of cross-border payments success is Kenya's own M-PESA. Launched in 2007, this mobile money service has revolutionized financial transactions within Kenya and across borders, empowering millions with the ability to send and receive funds seamlessly.
As Kenyan SMEs continue to grow and expand, embracing digital payment solutions like Lipabiz will be essential. By leveraging cross-border payments, businesses can seize new opportunities, reduce costs, and propel themselves forward in the global market.