Massive response to latest Kenya e-money innovation

March 30, 2017 9:59 am96 comments

mpesa 1aNAIROBI, (CAJ News) – A TOTAL of 2 million bank customers have signed up for Kenya’s newest money transfer service, PesaLink owned by the bankers’ umbrella body.
The milestone has been achieved barely two months after the initiation of the service by local financial technologies (fintech) solutions delivery firm, Integrated Payment Services Limited (IPSL), a company that is wholly owned by the Kenya Bankers Association.
A total of 22 banks approved by the Central Bank of Kenya (CBK) to provide the interbank money transfer service, are now processing huge daily transactions.
IPSL Chief Executive Officer, Jennifer Theuri, said most banks on the IPSL platform, she said, have managed to consistently record impressive average turnaround rate for transactions on the platform.
“At IPSL, we are glad to celebrate the one-month brand rollout milestone which provides a good test run ahead of our formal launch in the coming weeks,” Theuri said.
He said so far, they hoped to significantly raise this number (2 million) in the next few weeks as we continue to on-board more banks.
PesLink affords bank customers registered on the platform to make real time interbank payments, around the clock, without having to go through any intermediaries on any bank channels including mobile devices, internet, automated teller machines, bank branches or commercial bank agency outlets.
It allows the registered users to transact as low as Sh10 (US$0,1) to as much as Sh999,999 across the banking system at a low cost comparatively.
CAJ News


Leave a Reply