KCB Bank customers will pay a reduced flat fee of Ksh20 to send money through Pesalink for any amount between Ksh1,000 and Ksh999,999. Transactions below Ksh1,000 will be free. In line with the industry’s “Tuma Direct na 20,” campaign, the move is aimed at making real-time payments more affordable, and convenient for individuals and MSMEs using KCB Bank’s mobile & internet banking channels.
KCB Bank Kenya Managing Director, Mrs. Annastacia Kimtai, noted that this expands access to financial services for Kenyans by lowering transaction costs and offering alternative options. In effect, this brings mainstream financial services closer to underserved communities, with a particular impact on SMEs that rely on efficient, affordable financing to grow.
“By standardising Pesalink transaction fees at Ksh2o, we are eliminating price ambiguity and offering a clear, predictable cost for bank-to-bank transfers. This positions Pesalink as a practical and affordable option for individuals and businesses, driving wider adoption of formal financial services. The initiative also aligns with KCB’s broader digital transformation strategy, which seeks to leverage technology and partnerships to offer efficient, customer-centric banking solutions,” Mrs. Kimtai said.
Pesalink, which enables real-time interbank transfers, has become a critical component of Kenya’s digital payments ecosystem. For KCB Bank, the removal of uncertainty around transaction charges will encourage greater adoption of formal banking channels for everyday payments.
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On his part, IPSL CEO, Gituku Kirika said; “Tuma Direct na 20/-is a rallying call for banks and customers to move to the simpler Pesalink pricing. In collaboration with our industry partners, we are lowering costs and accelerating the adoption of instant bank-to-bank payments across the economy. KCB is taking the important step toward deepening financial inclusion and strengthening Kenya’s position as a leader in digital financial services.”
The move comes as KCB continues to drive investments that will secure its leadership in digital payments. Over the past few years, the bank digital channels have consistently grown by over 20% both in value and volume of transactions.
The digital channels processes 99% of all transactions conducted through the KCB touchpoints during the year. This milestone is anchored on the KCB Group Strategy 2024 – 2026, Transforming Today Together, which seeks to leverage cutting-edge technology to empower customers by removing barriers to financial access.
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