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

Tieto

Tieto has developed the payment infrastructure design and software of PesaLink – Kenya’s first instant payments platform.  PesaLink was launched in February 2017 and immediately taken up by 22 of the 42 banks that make up the Kenya Bankers Association (KBA).

The objective was to allow banks of all sizes and market share to benefit from a unified payments infrastructure with access to both banked and unbanked customers. The functionality delivered by PesaLink enables P2P money transfers and utility payments across all channels with a focus on growth through mobile and the internet – offering 24/7, real-time inter-bank transactions.

By the beginning of April 2017, less than 2 months from live, a total of 2 million bank customers have already signed up for PesaLink.