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.
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