PEP Intermedius is a network of cash merchants that serves as the bridge for unbanked customers and the financial system.


At PEP, we believe in financial inclusion – making financial services available and easily accessible to everyone, particularly those living on less than $2 a day.

Our mission is to support and contribute to the overall development and well-being of our customers, their families and their communities by improving their access to financial services. To that end, we strive to understand and address the finance needs and expectations of our customers by providing easy-to-use, reliable and affordable services in a secure and respectful environment.


PEP is a social enterprise, which is privately owned by its management and (currently) twenty private investors. Fifteen investors are based in the Netherlands and five are Kenyan. PEP is aiming to be the gateway of choice for the people of Kenya, the primary provider of services in terms of market share, and a major contributor to the socio-economic development of local communities.

Our History


+ PEP starts out as a microfinance institution in Kisumu, West Kenya, a six-hour drive from the capital of Nairobi.


+ PEP Intermedius opens five agencies in the area around Kisumu.


+ With the launch of M-Pesa, PEP immediately takes on an important role as cash merchant from six sales outlets, making it Kenya’s largest intermediary for M-Pesa.


+ PEP opens the 50th agency for financial services for mobile banking.


+ The 100th agency is opened, with a total of 90 franchises and a staff of 20.


+ This year marks the start of a strategic partnership with the Bill and Melinda Gates Foundation, with the aim of supporting their mission to improve financial inclusion amongst the unbanked by sharing our knowledge and expertise.

+ The new partnership with Mukuru offers PEP agencies the opportunity to carry out international transactions for their growing group of customers. Mukuru is a foreign exchange internet platform for international remittances.


+ Realisation of a new network of 30 in-house shops in Nakumatt supermarkets means PEP effectively now reaches all parts of the country. As the first agency network, PEP offers multiple payment services alongside M-Pesa, including Airtel Money and yu-cash.

+ This year sees the start of the Mtaani agent banking service, a recently launched mobile payment system of Kenya’s largest bank Kenya Commercial Bank (KCB). Thanks to Mtaani, the range of financial services offered by selected PEP agencies will be further expanded.