CBK directs banks to reduce transaction time on PesaLink

Monday 27 March 2017 | 09:55 CET | News
The Central Bank of Kenya (CBK) has directed banks to cut by half the time Kenyans take to transact on the lenders' mobile money transfer platform, PesaLink from the current 20 seconds, before the service formally launches, The Daily Nation reported. CBK governor Patrick Njoroge said the Kenya Bankers Association (KBA), representing 43 lenders, had initially pegged their mobile money transaction time at 40 seconds, which it deemed too slow. This prompted the financial regulator to direct the lenders to recalibrate their system for faster transactions, as a condition for roll-out.

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Categories: Mobile & Wireless
Countries: Kenya
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