Money makes the world go round, or so the saying goes. But in Kenya, it's not just any money that's turning the wheels of the economy; it's mobile money. According to a Statista post, with over 50 million mobile money subscribers and counting, Kenya is one of the world's largest markets for mobile money transfer platforms. Hence, why “how to use PesaLink” is a trendy topic in the country.
But with so many options available, which one should you choose? Enter PesaLink, the ultimate solution for fast, secure, and convenient money transfers.
In this article, we'll take you on a journey through the world of PesaLink, exploring its features and benefits, and showing you how to use it like a pro. Whether you're a business owner, a student, or someone looking to send money to family and friends, PesaLink has you covered. So buckle up, and let's get started with how to use PesaLink as introduced by IntaSend!
Benefits of Using PesaLink
Mobile money transfer platforms have revolutionized the way we handle our finances. But with so many options available, it can be challenging to know which platform to use. In Kenya, however, PesaLink stands out as the ultimate solution for secure money transfers.
Here are some of the benefits of using PesaLink:
Speed and convenience of transfers
One of the biggest advantages of using PesaLink is the speed and convenience of transfers. With PesaLink, you can send and receive money in real-time, without the need for agents or physical cash handling. This means that you can pay for goods and services, settle bills or send money to family and friends instantly, anytime, anywhere.
PesaLink also supports bulk payments, which means you can send money to multiple recipients simultaneously, saving you time and effort. Additionally, PesaLink is available 24/7, meaning you can make transactions at any time, even during holidays and weekends.
What makes PesaLink even more appealing is its speed and convenience. It takes only a matter of seconds for a transaction to be completed, and you can be sure that your money will arrive safely and securely. PesaLink is the perfect solution for busy individuals who need to make transfers quickly and conveniently.
Low transaction fees
Another advantage of PesaLink is that it offers lower transaction fees compared to other mobile money transfer platforms. With PesaLink, you can enjoy reduced transaction costs for both small and large transfers, which translates into more savings for you.
For businesses, this can be particularly beneficial, as it means that they can save money on transaction fees and pass on the savings to their customers. Additionally, PesaLink's transaction fees are transparent, which means that you won't be hit with hidden charges or fees.
This makes PesaLink a great choice for businesses as they can save money on transaction fees and pass on the savings to their customers. PesaLink’s low transaction fees make it easier for businesses to budget and plan accordingly, as they can make accurate predictions on how much their transactions will cost.
High transaction limits
PesaLink also offers high transaction limits, which means that you can send and receive larger amounts of money compared to other mobile money transfer platforms. This makes PesaLink ideal for businesses and individuals who need to make large transactions.
For example, businesses can use PesaLink to pay their suppliers or employees, while individuals can use PesaLink to send money to family and friends for special occasions like weddings or medical emergencies.
Moreover, due to the high transaction limits, PesaLink allows for larger payments to be sent thus making it easier for those in need of funds to receive them quickly.
Increased security
PesaLink is also more secure compared to other mobile money transfer platforms, thanks to its direct bank transfer system. With PesaLink, your money is transferred directly from your bank account to the recipient's bank account, eliminating the need for intermediaries. This means that your transactions are more secure and less prone to fraud.
Also, PesaLink uses advanced security features such as two-factor authentication, which adds an extra layer of security to your transactions. PesaLink also complies with industry security standards such as PCI DSS, which means that your financial information is safe and secure. This also ensures that your money is transferred in accordance with the highest security protocols available.
Integration with other platforms
PesaLink's seamless integration with other payment platforms is like the perfect dance partner who moves effortlessly with you. With PesaLink, you can easily link your bank account to other payment platforms such as IntaSend, M-Pesa, and others, making transactions more accessible and convenient.
Gone are the days of the hassle of having to switch between platforms to complete a transaction. PesaLink's integration with other payment platforms makes life so much easier, allowing you to send and receive money without having to worry about the technicalities of different platforms. PesaLink is the ultimate connector, ensuring that your transactions are completed quickly and efficiently.
Whether you are making payments for goods and services, sending money to friends and family, or running a business, PesaLink's seamless integration with other payment platforms ensures that your transactions are smooth, effortless, and stress-free. Say goodbye to the frustrations of navigating different platforms and embrace the simplicity of PesaLink.
Features of PesaLink
When PesaLink was first introduced by the Kenyan Bankers Association, it was widely hailed as a game-changer for the mobile money industry as it combines the convenience of bank transfers with the speed of mobile money transactions. What PesaLink simply does is that it allows folks in Kenya to transfer funds from one bank to another in the most secure and efficient manner possible. With a transaction limit of up to KSh 999,999, businesses with high transaction volumes will find this system particularly beneficial. Let’s explore some of the features of the popular PesaLink API below;
Transaction status query (TSQ)
Introducing the transaction status query (TSQ) feature in PesaLink has been a game-changer for how people manage their finances. It has been designed to allow customers to remain secure when making payments and provide them with information about the status of their payments. This allows customers to stay informed and in control of their money. Users can now inquire about more information about their previous payment in many ways, which include Payment REturn, Creditor Payment Activation Request, Customer Credit Transfer Initiation, Payment Cancellation Request, and Customer Credit Transfer. You can learn more about TSQ on the official website of IPSL.
Account verification
We can’t deny that bank transfers have their limitations. One of these is the issue of account verification, where the sender can’t verify the recipient’s information before sending, leading to loss of money among other things. PesaLink is designed to solve this by allowing users to verify the recipient’s information before sending payments. This information includes the account number and name. This will help limit sending of funds to the wrong accounts, and the sender can be confident that they’re sending funds to the right account.
Credit transfer
This may seem like a big deal at first look, but it simply means when a sending customer moves funds from their account to the recipient’s bank account. That simple practice is what’s known as credit transfer.
Other Benefits of PesaLink
In addition to some of the benefits we highlighted at the beginning of this article, below are some other benefits you’ll get to enjoy when you use PesaLink for your bank transfers;
- Information exchange
- Anti-fraud measures and checks
- Detailed reports and reconciliations
- Account validation and verification
- Multiple payment methods like the request to pay by PSP, credit transfers, and many more.
- Information exchange
- A 3-layer structure of participants, such as payment, indirect, and direct initiators.
Frequently Asked Questions
- How long does it take for a PesaLink transaction to be completed?
PesaLink transactions are almost instant, usually taking just a few seconds to complete. However, some transactions may take longer to process, depending on factors such as the amount being transferred, the banks involved, and any network issues.
- Are there any transaction fees for using PesaLink?
Yes, there are transaction fees for using PesaLink. However, these fees are lower than those charged for other payment platforms, making PesaLink a cost-effective option for sending and receiving money.
- Can I use PesaLink to make international transactions?
No, PesaLink is only available for transactions within Kenya. If you need to make international transactions, you may need to use other payment platforms or services.
- Is PesaLink secure?
Yes, PesaLink is a secure payment platform that uses advanced security measures to protect your transactions. It has several security features that ensure your money is safe and your data is protected.
Conclusion
As we come to the end of this guide on how to use PesaLink, it's clear that this digital payment platform is a game-changer for the Kenyan market. With its many benefits and features, PesaLink has revolutionized the way we send and receive money, making transactions faster, more secure, and more convenient.
Whether you're looking to pay bills, buy goods and services, or transfer money to family and friends, PesaLink has got you covered. And with its seamless integration with other payment platforms, you can be sure that your transactions will be hassle-free and cost-effective.
You can even have it integrated with your payment system by your developer, as this has been made possible by IntaSend with the availability of the PesaLink bank transfer API. To get started, you need to have an IntaSend account. Good luck with the process!
Cover Photo by Microsoft Edge on Unsplash
