Kenya’s inter-bank money transfer solution, PesaLink, was the winner of the Best Banking Initiative award at this year’s Emerging Payments Awards held in London on Thursday.

Launched early this year, PesaLink allows customers to send money from one bank account to another bank account in real time on all banks’ retail payment channels including mobile, ATM, Internet banking, Agency, Bank branches and POS. Launched by the Kenya Bankers Assoperated by Integrated Payments Service Limited (IPSL), it  aims at creating value for the industry, banks and customers through innovation and interoperability.

PesaLink provides a 24 hour, seven days a week (including public holidays) platform enabling customers to send money from as low as Ksh 10 to as much as Ksh 999,999 at a low fee. Initially, PesaLink will be a person-to-person (P2P) service but will eventually provide person-to-business (P2B) and business-to-business (B2B) services. It moved Ksh 8 billion in the first five months of its existence.

At the London ceremony, industry big-hitters Amazon Pay were recognised for Best Online Payments Solution, while Best Proximity or Contactless Payment Solution went to Apple Pay for its Ticket Restaurant. Meanwhile, the Post Office’s Travel Money Card won Best Consumer Card Loaded Programme.

London-based PrePay Solutions (PPS) won the Leading Regulated Organisation award, while cloud-based digital banking business Payment Cloud Technologies (PCT) won the coveted Leading Emerging Payments Organisation award.

ALSO SEE: New banks’ money transfer service hits a milestone

Tony Craddock, Chairman, Emerging Payments Awards, commented: “Every year the quality of entrants to the Emerging Payments Awards goes from strength to strength. Now in our tenth year and one of the annual highlights of the FinTech calendar, we’re thrilled to see so much innovation from the UK and further afield as FinTech continues to push into the mainstream, making a real difference to consumers’ lives around the world.”

The full list of winners for 2017 is as follows:

Best Banking Initiative – Tieto develops Kenya’s first real time payments platform-PesaLink

Best Online Payments Solution – Amazon Pay

Best Proximity or Contactless Payment Solution – Apple Pay for Ticket Restaurant

Best Consumer Card Loaded Programme – Post Office Travel Money Card

Best Corporate/Government Loaded Payments Programme – The Cashplus Business Account

Silver Award – C3 Payroll Card

Best Incentive Card or Programme – The New look ecommerce gift card program by WeGift

Silver Award – CashStar: Hooters’ Endless Craving Card

Best Cross Border Payment Solution or use of FX – Currencycloud unlocks 5-trillion-dollar a day FX market with GPS

Silver Award – Saxo Payments Banking Circle

Best New Customer facing Innovation – Curve; connecting your financial world

Best New Back Office Innovation – Cybertonica: A thriving Artificial Intelligence technology partner committed to grow e/m-commerce businesses and build their customers’ trust.

Best PSP or Acquiring Solution Provider – Paysafe Group – Payment Processing and Acquiring

Silver Award – AEVI’s Open Ecosystem

Best Retailer Adoption of Emerging Payments Technology – InComm Europe & Currys PC World Trade In Program

Best Physical or Virtual Design – SumUp Air Card Reader

Emerging Payments Marketing Campaign of the Year – Bacs: The Current Account Switch Service’s Switch Guarantee Guy

Best Service Organisation supporting the Emerging Payments Industry – Saxo Payments Banking Circle

Leading Regulated Organisation – PrePay Solutions – Heading up the industry

Leading Emerging Payments Organisation – The PCT Difference

Leading Payments Start-Up – Capital on Tap – Business Rewards Card

Emerging Payments Entrepreneur of the Year – Tony Kerr and Craig Dewar: entrepreneurial vision means no compromises for GPS

Best CSR or Charity Initiative – The digital charity box from Pennies and K3 Retail

Industry Contributor of the Year – Nick Ogden, ClearBank


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