Absa Bank Kenya has endorsed a new banking sector initiative aimed at accelerating the uptake of digital payments through the PesaLink platform.
Under the programme, PesaLink transaction fees have been significantly reduced, with transfers valued between Sh1,001 and Sh999,999 attracting charges as low as Sh20. Transactions below Sh1,000 will be processed free of charge.
The move is designed to encourage greater use of real-time account-to-account transfers by providing consumers and businesses with a more affordable payment option for everyday transactions.
The initiative, spearheaded by the Kenya Bankers Association (KBA), comes as Kenya maintains its position as a global leader in the adoption of digital financial services.
Despite this progress, a large proportion of low-value transactions continue to be conducted through mobile money platforms.
By lowering transaction costs, the banking industry hopes to position instant bank-to-bank transfers as a convenient and practical choice for routine financial activities, including sending money to relatives and friends as well as making payments for goods and services.
Speaking on the development, Absa Bank Kenya Consumer Banking Director Moses Muthui said the initiative demonstrates the sector’s commitment to enhancing affordability and accessibility in banking services.
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“Through this initiative, we are making banking more accessible, affordable and convenient for our customers. As consumers and businesses increasingly seek value and ease of use, the cost of transactions should not stand in the way of accessing secure and dependable digital financial services,” said Muthui.
PesaLink enables customers to move funds instantly between local bank accounts, whether for personal or business purposes. During the promotional period, users will benefit from seamless real-time transfers at substantially reduced rates across participating banks.
The programme is also expected to strengthen financial inclusion by encouraging more Kenyans to transact through formal banking channels while enjoying improved security, convenience and interoperability within the banking ecosystem.
For small enterprises and entrepreneurs, the initiative offers an opportunity to cut transaction expenses, improve cash flow management and access funds instantly, factors that are critical to supporting daily operations and business expansion.
Muthui noted that affordable digital payment solutions remain central to driving economic participation and fostering a more inclusive financial system.
“Our priority is to provide solutions that address the changing needs of our customers. Cost-effective digital payments play a vital role in supporting business growth, expanding economic participation and building a more inclusive financial ecosystem,” he said.
Customers can access PesaLink through the digital platforms of participating banks, enabling instant account-to-account transfers across the country’s banking network.
