Absa Bank Kenya has thrown its support behind an industry-wide initiative aimed at accelerating digital payments adoption through reduced PesaLink transaction fees, making instant bank-to-bank transfers more affordable for Kenyans.
Under the new pricing structure, PesaLink transfers of between KSh1,001 and KSh999,999 will attract charges as low as KSh20, while transactions below KSh1,000 will be free. The move is expected to encourage more individuals and businesses to embrace real-time account-to-account payments for everyday financial transactions.
The initiative, led by the Kenya Bankers Association (KBA), seeks to strengthen the use of digital banking channels by providing customers with a secure, convenient, and cost-effective alternative for sending money, paying for goods and services, and managing business transactions.
Kenya has continued to rank among global leaders in digital financial services adoption, although a large proportion of low-value transactions are still conducted through mobile money platforms. The banking industry hopes that lower PesaLink costs will make direct bank transfers more attractive and accessible to a wider population.
Absa Bank Kenya Consumer Banking Director Moses Muthui said the initiative aligns with the bank’s commitment to delivering affordable and simplified financial solutions.
“ This initiative reflects our commitment to making banking simpler, more affordable, and more accessible for our customers. As households and businesses continue to prioritise value and convenience, cost should never be a barrier to accessing secure and reliable digital financial services,” said Muthui.
PesaLink allows customers to transfer funds instantly between bank accounts across Kenya’s banking network, enabling seamless payments to individuals and businesses. During the offer period, customers will benefit from reduced charges while enjoying faster and more secure transactions.
The initiative is also expected to support financial inclusion by encouraging more Kenyans to use formal banking platforms while improving interoperability within the financial ecosystem.
For small businesses and entrepreneurs, reduced digital payment costs could help lower operational expenses, enhance cash flow management, and provide faster access to funds needed for daily operations and expansion.
“As a bank, our focus remains on delivering solutions that respond to our customers’ evolving needs. Affordable digital payments are critical in supporting economic participation, enabling business growth, and fostering a more inclusive financial system,” added Muthui.
Customers can access PesaLink through participating banks’ digital platforms, allowing instant transfers across Kenya’s banking network at reduced costs.