Upesi Money Transfer head of commercial Mercy Mutune with Lead Business Development, Mary Wachira, at Upesi Money Transfer head offices/ HANDOUTKenyan-owned financial technology and money remittance company, Upesi, has surpassed Sh20 billion in cumulative cross-border transaction value, becoming among the first home-grown SMEs to hit the milestone in the digital money transfer services.
This is as individuals and businesses increasingly seek faster, more convenient and secure ways to move money across borders.
It comes on the back of growing remittances mainly inflows where according to the Kenya National Bureau of Statistics and the Central Bank of Kenya, Kenyan households received an estimated Sh931.8 billion in remittances from abroad between June 2024 and May 2025.
Money sent by Kenyan residents to other regions totaled Sh40.5 billion during the same period.
Established in 2015 and licensed in 2016, Upesi enables customers to send money internationally through its digital platforms without the need to visit a physical branch.
It now serves more than 3,000 customers, facilitating transfers from Kenya to destinations across Africa, the Middle East, Europe, Asia, the United States and other international markets.
“Upesi means ‘fast’, and that is exactly what we are building: a faster, simpler and more transparent way for people and businesses to move money across borders,” said Mary Wachira, Lead Business Development at Upesi Money Transfer.
“People are sending hard-earned money, paying suppliers, supporting families and meeting important obligations across borders. They need a service that is not only fast, but one they can trust. Upesi combines technology, regulatory compliance, strong partnerships and customer support to make cross-border transfers simpler and give our customers greater confidence whenever they transact.”
Customers can register digitally, initiate transfers remotely and see the applicable charges and the amount the recipient will receive before confirming a transaction.
The platform also offers multiple payment and payout options and provides digital transaction records.
The cash flows extend beyond family remittances, with money moving across Kenya’s borders every year to finance international trade, pay suppliers, meet education and travel expenses, support families, fund investments and meet other personal and business needs.
Kenya's merchandise trade deficit stood at approximately Sh1.38 trillion in 2025, reflecting the scale of payments associated with imports and international commerce.
For individuals and businesses, the ability to move money efficiently across borders is therefore becoming increasingly important.
Upesi, which is regulated by the Central Bank of Kenya and operates under applicable regulatory frameworks in Uganda and Canada, provides a digital channel for cross-border transactions, enabling customers to initiate transfers remotely while giving them clear visibility of fees, recipient amounts and transaction records.
Its platform incorporates multi-factor authentication, including one-time passwords, anti-money laundering controls, transaction monitoring and data protection measures to support secure and compliant transactions.
The platform works with money transfer operators, banks, cash collection partners and mobile money providers to facilitate the movement and delivery of funds across multiple markets.
The growth of digital money transfers comes against a backdrop of concerns about the movement of physical cash across borders.
A Central Bank of Kenya survey on the cross-border movement of cash identified challenges including the difficulty of tracing physical cash, weaknesses in cross-border controls and limited technological solutions for monitoring financial activity.
The report called for stronger use of technology, including artificial intelligence and machine learning, to identify unusual transaction patterns and strengthen monitoring of cross-border financial flows.
The findings underline the growing importance of digital payment systems that can provide greater visibility, traceability and control while making legitimate cross-border transactions easier for customers.
“We believe the future of international money transfers is about making cross-border payments as simple, fast and accessible as sending money locally, while maintaining the security, transparency and regulatory controls that give customers confidence,” Wachira said.
