Safaricom’s M-Pesa is set to join the Pesalink network, a move that could reshape Kenya’s digital payments landscape. In a joint proposal with the Kenya Bankers Association (KBA), Safaricom has sought approval from the Central Bank of Kenya (CBK) to integrate M-Pesa into Pesalink, which currently connects 39 banks but excludes mobile money services.
This integration aims to bridge the gap between mobile wallets and traditional bank accounts, making transactions faster and more seamless. It aligns with CBK’s Fast Payment System (FPS) initiative, designed to streamline cross-platform transactions and boost financial inclusion.
Currently, Pesalink only facilitates bank-to-bank transfers. If M-Pesa joins, users will be able to transact with any bank without separate agreements. A key benefit would be reduced transaction costs—sending KES 10,000 via M-Pesa costs around KES 100, while Pesalink charges between KES 30–50.
Fintech experts believe this move will create a more unified financial ecosystem, benefiting individuals and businesses by simplifying payments across different platforms.
