PesaLink : Kenya Bankers Association launch App to Support Inter-Bank Transactions.
How many times have you been looking for ways to transfer your money from one bank account to another without using other mobile money medium platforms thus increasing the cost of transaction charges.
PESALINK which was developed by Integrated Payment Services Limited (IPSL), a fully-owned subsidiary of Kenya Bankers Association, to complement existing bank products, including mobile money transfer and related wallets founded under the Central Bank of Kenya’s National Payments System guidelines.
Pesalink allows users to transact as low as Sh10 to as much as Sh999,999 across the banking system and allow customers make payments between banks without having to go through intermediaries.
“The PesaLink facility will be accessed through various bank channels, mobile banking, internet banking, ATMs therefore illustrating the banking industry has embraced the technology revolution sweeping across the payments industry,”said Habil Olaka, KBA CEO.
The phased implementation will begin with banks that have completed the pilot exercise which include Standard Chartered Bank, Co-Operative Bank and Barclays Bank, with 12 banks so far signed up to the platform.
