The interbank money transfer platform Pesa Link launched last February transacted Sh8 billion in the five months to August 4. The platform is offered by Integrated Payment Services Ltd (IPSL), a fully-owned subsidiary of Kenya Bankers Association (KBA), and can handle person-to-person transfers from as low as Sh10 to a high of Sh999,999. According to Jennifer Theuri, CEO of IPSL, the platform’s subscriber base has continued to grow with the number of banks adopting it rising to 28, with other unnamed banks lining up to join.
Local investors wishing to invest in M-Akiba, the government issued retail bond, can now enjoy higher transaction limits with PesaLink, the real time interbank money transfer service.
Signed up PesaLink subscribers to enjoy free services for the next two months 09/07…The Kenya Bankers Association (KBA) through its fully owned financial technologies firm -Integrated Payment Services Limited (IPSL)-has today officially launched PesaLink, a bank-to-bank money transfer platform, after a four-month pilot phase.