PesaLink has signed an MoU with Mastercard that will see the two firms create digital payment solutions in a bid to boost the adoption and usage of digital payments in Kenya.
Under MoU, PesaLink will leverage Mastercard’s technology, expertise, partnerships, and cyber intelligence solutions to diversify its payment capability beyond person-to-person payments.
Mastercard will specifically collaborate with PesaLink to expand its services to include a direct-to-consumer digital proposition (app, USSD, web, etc.), agent banking and solutions for business and government payments, collections, and disbursements, both face to face and remote, among others.
Additionally, the financial service provider will also provide advisory and technical support to advance PesaLink’s digital-first strategy, in accordance with local and global best practices.
The MOU aligns with Mastercard’s focus on localizing its solutions to address specific market needs and shows a deep understanding of the dynamics of the banking ecosystem in Kenya
“This collaboration with Mastercard is pivotal in providing millions of Kenyans with financial solutions that meet their needs, furthering our goal to accelerate the adoption and usage of digital payments in the country.” Gituku Kirika, CEO of PesaLink.
PesaLink is known to many Kenyans and was established by the Kenya Bankers Association and it has since grown and consists of 31 banks in the country. It is also used by many payment service providers, SACCOs, and telecommunication companies.
