Absa Bank Kenya has welcomed a new industry-wide initiative to promote digital payments through PesaLink. As part of the initiative, PesaLink transaction charges have been reduced to as low as KSh20 for transfers ranging between KSh1,001 and KSh999,999, while transactions below KSh1,000 will be free of charge.
The initiative aims to accelerate the adoption of real-time, bank-to-bank digital payments while offering consumers and businesses a cost-effective alternative for everyday transactions.
This Kenya Bankers Association-led initiative comes at a time when Kenya continues to lead globally in digital financial services adoption.
However, a significant share of low-value transactions still take place on mobile money platforms. By lowering transaction costs, the banking industry aims to make instant account-to-account transfers a more practical and attractive option for daily use, from sending money to family and friends to paying for goods and services.
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Commenting on the development, Absa Bank Kenya Consumer Banking Director Moses Muthui said:
“This initiative reflects our commitment to making banking simpler, more affordable, and more accessible for our customers. As households and businesses continue to prioritise value and convenience, cost should never be a barrier to accessing secure and reliable digital financial services.”
PesaLink enables customers to transfer money instantly between local bank accounts, whether to individuals or businesses. During the offer period, customers can enjoy seamless real-time transfers at a significantly lower cost, regardless of the amount being sent.
The initiative is also expected to advance financial inclusion by encouraging more Kenyans to transact directly through formal banking channels while benefiting from enhanced security, convenience, and interoperability within the banking ecosystem.
For small businesses and entrepreneurs, the banking sector initiative presents a valuable opportunity to lower transaction costs, improve cash flow management, and access funds instantly, supporting day-to-day operations and driving growth.
“As a bank, our focus remains on delivering solutions that respond to our customers’ evolving needs. Affordable digital payments are critical in supporting economic participation, enabling business growth, and fostering a more inclusive financial system,” added Muthui.
Customers can access PesaLink through participating banks’ digital channels, enabling instant account-to-account transfers across Kenya’s banking network.
