Safaricom, Kenyan commercial banks propose Pesalink for national payments overhaul
- Safaricom and KBA propose Pesalink as the preferred fast payment system in Kenya.
- Pesalink currently supports $8.5 billion in Kenya's digital payments.
- The proposal aims to ensure seamless interoperability across banks, mobile money operators, and fintechs.
The proposal to upgrade Pesalink represents a strategic move towards creating a more integrated and efficient digital payments ecosystem in Kenya. By building on existing infrastructure rather than starting from scratch, stakeholders can potentially save costs and time while addressing the complexities of the current fragmented system. However, careful consideration must be given to the necessary upgrades and the potential challenges of ensuring service quality and governance.
