Kenya Bankers Association (KBA) has unveiled a money transfer platform that will allow users to move cash across banks in real time.
The Pesa link system is expected to cut the cost of transactions and transform consumer interaction with banks. Users will be able to make payments between banks around the clock without having to go through intermediaries. The peer-to-peer product will be offered through Integrated Payment Services Limited (IPSL) a full crowned subsidiary of KBA formed to implement the platform upon which the product and other digital innovations will run. KBA on February
8 received CBK’s nod to initiate the roll-out of Pesa link to banks and their customers.
Date: Friday17th February 2017
Publication: People Daily
Reporter: Steve Umidha