5th-Feb-2026 • Alice Wambui • Crossborder Payments
Welcome Kenyan SMEs! In today's interconnected world, expanding your business beyond national borders can lead to unprecedented growth opportunities. However, navigating the complex landscape of cross-border payments might seem daunting. But fret not, for we have crafted a guide designed to simplify this process and empower you to venture into global markets with confidence.
Cross-border payments involve moving money across international borders. This includes transactions between businesses, consumers, or financial institutions. For SMEs in Kenya, these payments can be crucial for importing raw materials, exporting products, paying overseas suppliers, or receiving remittances from abroad.
Traditional cross-border payment methods often come with high fees, slow transfer times, and a labyrinth of regulations. This makes it challenging for SMEs to compete on the global stage.
Lipabiz offers a robust business management platform that includes an efficient payments solution, designed specifically for Kenyan SMEs. Our system streamlines cross-border transactions, reducing costs and facilitating faster transfer times.
Let's take the example of Mpesa, a popular mobile money transfer service in Kenya. Lipabiz integrates seamlessly with Mpesa, allowing you to send and receive payments from anywhere around the world, without the need for expensive foreign exchange services or bank transfers.
According to a report by the Kenyan National Bureau of Statistics, the number of SMEs in Kenya has grown steadily over the past decade. However, a significant portion of these businesses are still hindered by inefficient cross-border payment methods.
By adopting modern solutions like Lipabiz, SMEs can reduce their transaction costs and improve cash flow, making them more competitive in the global marketplace. A case study by McKinsey & Company found that businesses using digital platforms for cross-border payments saw an average cost reduction of 50%.
