NAIROBI, Kenya, June 12, 2026 – Absa Bank Kenya has welcomed a banking industry initiative aimed at accelerating the adoption of digital payments through reduced PesaLink transaction charges, a move expected to make instant bank-to-bank transfers more affordable for millions of Kenyans.
Under the new pricing structure announced through a Kenya Bankers Association (KBA)-led initiative, transactions below KSh1,000 will be free, while transfers ranging between KSh1,001 and KSh999,999 will attract charges as low as KSh20.
The initiative seeks to encourage greater use of real-time account-to-account payments by offering consumers and businesses a cost-effective alternative for everyday financial transactions.
Kenya is widely recognised as a global leader in digital financial services, driven largely by the widespread adoption of mobile money. However, banks believe reducing the cost of PesaLink transfers will make direct bank-to-bank payments more attractive for routine transactions such as sending money to family and friends, paying suppliers, and settling business expenses.
Absa Bank Kenya's Consumer Banking Director, Moses Muthui, said the move aligns with the bank's commitment to making banking services simpler, more accessible, and affordable.
“This initiative reflects our commitment to making banking simpler, more affordable, and more accessible for our customers. As households and businesses continue to prioritise value and convenience, cost should never be a barrier to accessing secure and reliable digital financial services,” said Muthui.
PesaLink enables customers to transfer funds instantly between local bank accounts, whether to individuals or businesses, through participating banks' digital channels. During the offer period, users will benefit from significantly reduced charges while enjoying seamless real-time transfers across the banking network.
Industry players believe the lower transaction costs will also support financial inclusion by encouraging more people to transact through formal banking channels while benefiting from improved security, convenience, and interoperability.
The initiative is expected to particularly benefit small businesses and entrepreneurs by reducing transaction expenses, improving cash flow management, and ensuring immediate access to funds.
According to Muthui, affordable digital payment solutions are increasingly important in supporting economic participation and business growth.
“As a bank, our focus remains on delivering solutions that respond to our customers’ evolving needs. Affordable digital payments are critical in supporting economic participation, enabling business growth, and fostering a more inclusive financial system,” he added.
Absa Bank Kenya is one of the country's leading financial institutions and operates across 38 counties with an extensive network of branches, ATMs, agency outlets, and digital banking platforms. The lender says it remains focused on leveraging technology and innovation to improve customer experience and expand access to financial services.