Kenya vs Mexico · Real-time payment systems compared
| Capability | M-Pesa | SPEI |
|---|---|---|
| QR Code Payments | ✓ | ◐ |
| Wallet Support | ✓ | — |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | ◐ | — |
| ISO 20022 | — | — |
| Request to Pay | ✓ | — |
| Open API | ✓ | ◐ |
| Alias/Proxy | ✓ | ✓ |
Africa's pioneering mobile money platform that revolutionised financial services by enabling P2P transfers, bill payments, merchant payments, savings, and loans via basic SMS or smartphone app — no bank account required. Launched by Safaricom in Kenya in 2007, M-Pesa now serves 60M+ active users across Kenya, Tanzania, DRC, Mozambique, and other African markets. It processes more transactions than many traditional banking systems and has become a textbook case study in financial inclusion, reaching unbanked populations through mobile-first design and agent networks. Note: Data follows Safaricom's fiscal year ending March (e.g. "2025" = April 2024 – March 2025).
Mexico's Sistema de Pagos Electrónicos Interbancarios is one of the world's earliest 24/7 real-time payment systems, operated directly by the central bank (Banxico). SPEI processes both high-value and retail payments with no maximum transaction limit, settling in real time through Banxico's accounts. It supports CLABE (standardised 18-digit account numbers) and has been extended with CoDi, a QR-based overlay for merchant payments. Note: SPEI data includes both immediate and scheduled transfers on the same rail, as Banxico does not separately report real-time vs deferred transactions.