Kenyan banks eliminated Pesalink fees for transactions under KES 1,000, aiming to draw daily peer-to-peer transfers away from mobile money operators. Transfers above KES 1,000 now attract a flat KES 20 fee. The move targets increased financial inclusion and daily banking usage, enabling informal traders and gig workers to save on transaction costs. Banks expect higher volume and enhanced digital adoption, while improved interoperability and microfinance integration aim to strengthen the overall payments ecosystem and consumer trust .
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Pesalink Cuts Fees to Boost Banking
Business
24/05/2026
Kenyan banks eliminated Pesalink fees for transactions under KES 1,000, aiming to draw daily peer-to-peer transfers away from mobile money operators. Transfers above KES 1,000 now attract a flat KES 20 fee. The move targets increased financial inclusion and daily banking usage, enabling informal traders and gig workers to save on transaction costs. Banks expect higher volume and enhanced digital adoption, while improved interoperability and microfinance integration aim to strengthen the overall payments ecosystem and consumer trust .
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