A Black-owned tech company in Kenya, Integrated Payment Services Limited (IPSL), has recently launched a new money transfer service called PesaLink that has grown tremendously in just a short period of time. In less than two months, 2 million banks customers have signed up for their service.

Changing the way money is tranferred

The new e-money service, PesaLink, allows registered bank customers make money transfers 24/7. Customers no longer have to go to the bank or teller machines to complete their bank transactions. They can make instant, real-time transactions up to 999,999 Kenyan Shillings, which is roughly just under $9,600 USD.

The Central Bank of Kenya (CBK) approved 22 banks to offer the new interbank money transfer service. Each bank has reported great success with customers using the new technology platform for money transfers. Even at the end of the first month, which was a test run for the new system, the service was a hit with customers.

More growth expected

IPSL Chief Executive Officer, Jennifer Theuri, said they hope to increase the number of banks using the new money transfer system. This will result in an even greater number of customers signing up and using the service, soon surpassing the 2 million customers already using PesaLink.

For more details about the service, visit www.pesalink.com

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Source: Blackbusiness.org

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