Safaricom Unveils New M-Pesa Platform Capable of Processing 6,000 Transactions Per Second

Safaricom has rolled out a new M-Pesa platform known as Fintech 2.0, replacing the existing infrastructure that has supported the mobile money service for years.

The upgrade is expected to improve the speed and capacity of transactions as the company responds to growing demand for digital payments in Kenya and other markets where it operates.

According to Safaricom, the new system has increased M-Pesa’s processing capacity from approximately 4,500 to 6,000 transactions per second.

The telecommunications company disclosed the development in its annual report, noting that the platform can handle even higher volumes as usage increases.

“Fintech 2.0 increased transaction processing capacity from about 4,500 to about 6,000 uninterrupted transactions per second, with room to scale to 10,000 transactions per second,” the company stated.

The additional capacity is expected to support the large number of customers, businesses and institutions that rely on M-Pesa to send and receive money, pay bills and complete other financial transactions.

Safaricom said the new infrastructure also introduces artificial intelligence-driven security features designed to strengthen fraud detection and improve the protection of customer transactions.

The platform comes with open application programming interfaces (APIs) and improved integration tools, allowing developers, merchants and third-party partners to build services that connect with M-Pesa.

These changes are expected to make it easier for businesses to develop payment solutions and introduce products that use the mobile money network.

Among the services the upgraded system is expected to support are tap-to-pay payments, shared wallets and enhanced fraud management capabilities.

Safaricom also plans to use the infrastructure to expand its financial services beyond traditional money transfers. These include payments, credit, savings, insurance and merchant solutions.

The upgrade comes as competition in Kenya’s financial technology sector continues to grow, with banks, fintech firms and other digital payment providers offering alternatives to mobile money services.

By increasing processing capacity and opening up its systems to more partners, Safaricom is seeking to strengthen M-Pesa’s role in the country’s digital financial ecosystem.

The ability to scale to 10,000 transactions per second could also help the platform accommodate future growth without requiring another major overhaul.

LINK: https://www.tuko.co.ke/business-economy/technology/646087-safaricom-rolls-m-pesa-platform-processing-6000-transactions-second/?fbclid=IwZXh0bgNhZW0CMTEAcGRvZgRzcnRjBmFwcF9pZA80MDk5NjI2MjMwODU2MDkAAR-VJ2dGMb_RM9zZoOZFcb81R-QBhVfe3l718sQhYkt5-vtsIcxJhNs6rSt0_Q_aem_FGSndxn8yVYe9GFGPqzrwA