Safaricom and KBA Unite for Kenya’s Payment System Transformation
Safaricom and the Kenya Bankers Association propose elevating Pesalink to Kenya's primary fast payment system. Pesalink currently processes digital transactions worth $8.5 billion.
Safaricom, Kenyan commercial banks propose Pesalink for national payments overhaul
Safaricom and KBA propose Pesalink as the preferred fast payment system in Kenya. Pesalink currently supports $8.5 billion in Kenya's digital payments.
Safaricom’s M-Pesa to join Pesalink as Central Bank plans new payment system
Safaricom proposes to integrate M-Pesa with the Pesalink network. The integration aims to break down barriers between mobile wallets and bank accounts.
The most popular payment methods in Kenya 2024: Cash is king but M-Pesa remains huge
Rising transaction charges prompt merchants to shift to cash transactions. Cash accounts for 80% of daily transactions in Kenya.
Kenya’s central bank plans instant payment system across all banks and fintechs
Central Bank of Kenya is developing a new instant payment system called the Fast Payment System (FPS). FPS will allow instant transactions across all financial institutions, including banks and payment service providers.
