Co-op Bank integrates PesaLink services to its system, intensifies war on M-Pesa

Cooperative Bank customers, through PesaLink, will now transfer money ranging from Sh10 up to Sh1 million, with a transaction costs ranging between Sh0 to Sh152.

 

The new development to both counter and mobile banking services users now allows the lender’s customers to transfer funds directly from any other local bank, directly into their Cooperative bank accounts.

The newly launched service, economists hold, will transform the telecommunication service provider Safaricom Limited market, causing a disruption.

PesaLink brand was launched two weeks ago and kicked-off its phase I roll-out in the digital payments scene, the KBA Chief Executive Officer Habil Olaka saying that the platform is expected to cut the cost of transactions and transform the way consumers interact with their banks.

The service for the first time in Kenya will facilitate and ease payments amongst customers and banks in real-time, around the clock, without involving intermediaries.

Cooperative Bank customers, through PesaLink, will now be able to transfer cash from as little as Sh10 up to Sh1 million, with transaction costs ranging between Sh0 to Sh152.

Equally, customers will be able to now make payments directly from their bank accounts without having to move the money to their mobile devices. Customers can make payments of between Sh0 and a maximum of Sh1 million.

Agents and ATMs

The convenience with linking Co-op bank accounts with PesaLink is that one will be able to have access services from all Co-op bank channels including Co-op kwa Jirani agents, ATM’s, mobile banking services (Mc-op Cash) and all Co-op Bank branches across the country.

Co-op Bank customers are now able to have access of PesaLink services 24/7 as they can receive money into their Co-op Bank accounts at any time of the day.

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