PesaLink
Also known as: IPSL PesaLink, Kenya PesaLink, bank-to-bank instant transfer
Full definition
PesaLink is Kenya's inter-bank instant-payment rail. IPSL, the Kenya Bankers Association subsidiary that runs it, launched PesaLink in 2017 to give the banking sector a real-time answer to M-PESA. Every commercial bank in Kenya participates.
The user experience is inside each bank's own channels (mobile banking app, internet banking, USSD, Equitel *247#, Coop *667#, etc.): the customer picks Send to Other Bank, chooses PesaLink, enters either the recipient MSISDN (if the recipient has enrolled that number on PesaLink) or the recipient account and bank code, enters the amount, and confirms. Funds settle instantly, unlike RTGS (which is same-day but batch) or EFT (T+1).
Per-transaction limit is KES 999,999. Charges vary by bank; some banks bundle PesaLink into their monthly fee, others charge KES 30 to KES 200 per transfer. PesaLink is what unlocks bank-to-bank rent, salary and school-fees flows without touching M-PESA at all.
Worked example
A KCB customer wants to pay rent of KES 40,000 to a landlord who banks with Equity. In the KCB app they choose Send to Other Bank, PesaLink, enter the landlord's phone number, KES 40,000, confirm. The landlord's Equity account credits within a minute.
Verified 2026-09-01. Definitions on paybillke are sourced from Safaricom PLC Annual Report FY2026, the Central Bank of Kenya, the Communications Authority of Kenya, the Kenya Revenue Authority, and the primary operator documentation for each product. How we verify. Report a change.