Kenya's new payments bill could force banks to share customer data

Kenya's central bank has proposed the National Payment System Bill 2026, which would require banks and payment providers to securely share customer data with licensed third parties once customers consent. The bill creates two new fintech licence categories — payment initiation and account information service providers — and gives providers one year to comply after passage.

• Banks and mobile money providers would have to share customer data with licensed third parties
• Two new licence categories: payment initiation and account information service providers
• Providers would get one year to comply after the law passes
• Details on data access, conditions and cost left to CBK regulations