This functionality enables sending of mass payments. It is an avenue through which funds transfer instructions of corporate and institutional customers of banks which have been captured electronically as a single file are presented or delivered by banks to PesaLink for processing. Likewise, customers of banks issue several instructions to their bankers to debit their accounts and credit respective beneficiaries domiciled at various banks.
All these instructions are captured electronically by the customers’ bank and submitted to PesaLink and are processed in bulk. This service is designed to facilitate paperless clearing of bulk credits (salaries and pensions, shareholders’ dividends, etc.) for same day clearing and settlement.