What are the Payment Methods available in Kenya?

Kenya punters are familiar with online betting. Kenya is one of the countries that betting activities spur up the economy. Sport betting activities have been on the rise since its inception and in turn, more betting companies penetrated the Kenyan betting industry.

Betting firms in Kenya working together with the telecommunication companies, tech companies, and most importantly the banking industry to ensure that the Kenyan bettor has the safest, faster, secure, and convenient payment methods. Having a reliable and good payment system is one of the factors showing a reliable and dependable betting site.

Deposits and withdrawal methods are plenty in Kenya. Each betting site and land-based bookies have their preferred transaction. For instance, international bookies prefer using e-wallets and card payments which are internationally recognized while local bookies prefer using mobile payment methods which are fast.
This article provides a list of the payment methods available in Kenya.

Bank Transfers
Bank transfers are the oldest form of payment method not only in Kenya but also in the rest of the world. It is also called bank wires. A bank transfer allows you to transact money between your bank and the betting company.
The bank is probably the safest method since only the bank knows your financial details.
Pros
• It is the safest option available.
• A large amount can be transacted.
• It is simple.
• No hidden bank charges.
Cons
• Processing time is slow.

Mobile Payment
Mobile payment is the most preferred method of payment by both Kenyan bettor and the local bookies. Mobile money enables users to deposit money and withdraw money through mobile phones. It is by far the best option available because of its reliability and effectiveness. M-Pesa and Airtel Money are a popular mobile payment platform available for a Kenyan punter.
M- Pesa and Airtel Money are used by Kenyans in their daily life to pay bills, purchase things, transfer money, and many others. M-Pesa and Airtel Money are easy and quick to use. You only need your identification card and a registered SIM card and then register an M-Pesa account or Airtel Money at a registered agent.
International bookies have also added M-Pesa as their withdrawal and deposit method to give the best user experience.
Pros
• Fast processing time
• Safe transactions
• Efficient and effective
• Low transaction fees
• Easy to set up
Cons
• It limits the amount of money to be transferred.
• Transaction fees are charged.

E-wallets
E-wallets are mostly recognized by international bookies and accepted by Kenyan bettors. So, what is an e-wallet?
E-wallets are an online digital wallet where all your money is kept in one place (an online wallet) that represents a real wallet. E-wallets are safe and a trusted method to deposit and withdraw. A bettor only needs to share his card information with the respective company. Additionally, for an e-wallet to function you will only need to have an account with either skrill or Neteller with a substantial amount of cash.
Local bookies are also adapting to e-wallets on their websites.
Pros
• With e-wallets, you do not have to share your card details.
• You have the opportunity to choose the currency preferred.
Cons
• E-wallets have a service charge.

Card payment option
Debit cards and credit cards are considered safe by both local and international sports bookies. It is a preferred method mostly by international sports bookies.
Pros
• Easy to withdraw money.
• There are no processing fees.
• Debit cards offer safe transactions.
• Debit cards have a fast processing time.
Cons
• Card details are shared.

Conclusions
Betting sites in Kenya offer a wide range of payment methods. Before selecting a betting site, ensure that the betting site has your preferred deposit method. It is frustrating to sign up for a betting account then finding out you don’t have any of the deposit methods listed.

Also, be careful when sharing financial information on your card; some of these sites are not trustworthy, countercheck their websites before signing up.

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