IPSL PESALINK ~ onlinecash

PESALINK: An Integrated Payment Services Ltd Platform (IPSL); and that its, PesaLink is an integrated payment Service built for easy, safe, secure and cost effective money transfer from one bank account to another or on interbank transfer.

The Platform was established and is affiliated to Kenya Bankers Association (KBA). The platform is as a result of an establishment on the National Payment System (NPS) Act to address the challenge of integrating retail payments in the country.

Innovation and interoperability

The platform allows customers to send money from one bank account to another bank account in real time on all banks’ retail payment channels including but not limited to mobile, ATM, Internet banking, Agency, Bank branches and POS.

Pesa Link: Meaning Money just found a sail link; a new approach to electronic payment PesaLink is poised to a better competitor to Safaricoms M-Pesa by integrating innovation and lowering money transfer charges in Kenya at instantaneous speed.Safer and Secure

Realtime is the word here, available 24-7 the channel enables its customers to transfer money from as low as KES.10 to as much as KES.999,999 but not including the affiliated Banks additional charges.

Data released in August positioned PesaLink at vantage and spell doom intermediaries money services such as M-Pesa, Airtel Money, and Orange Money having facilitated transactions valued at KES. 8 billion way above IPSL half year target of KES. 7 billion target

Banks on PesaLink Platform

Not Limited to, here are the Banks offering PesaLnk Services. Intergrated

African Banking Corp. Ltd
Bank of Africa Ltd.
Barclays Bank of Kenya Ltd
Citibank N.A.
Commercial Bank of Africa Ltd
Consolidated Bank Ltd
Co-operative Bank of Kenya Ltd
Credit Bank Ltd
Diamond Trust Bank (K) Ltd
Equity Bank Ltd
Family Bank Ltd.
First Community Bank Ltd
Guaranty Trust Bank (Kenya) Ltd.
Guardian Bank Ltd
Gulf African Bank Ltd
Habib Bank A.G. Zurich
Jamii Bora Bank Ltd
Kenya Commercial Bank Ltd.I & M Bank Ltd
Kenya Women Microfinance Bank
Middle East Bank (K) Ltd
National Bank of Kenya Ltd
NIC Bank Ltd.
Paramount Universal Bank Ltd
Prime Bank Ltd
Sidian Bank Ltd
Spire Bank
Stanbic Bank Ltd
Standard Chartered Bank (K) Ltd
Victoria Commercial Bank Ltd

What is PesaLink Charges

TRANSACTION AMOUNT	COST
0-500	0
501 – 10,000	42
10,001 – 50,000	62
50,001 – 100,000	82
100,001 – 200,000	112
201,000 – 500,000	152
501,000 – 999,999	152

What Next

IPSL PesaLink is looking forward to integrating more banks and having been a success with the first phase of the project (person-to-person money transfers) its now a better stage to look at the second phase which will include businesses and establish partnerships with government agencies, mobile virtual network operators (MVNO) and other players in the mobile money transfer sub sector including licensed microfinance institutions (MFIs).