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About Sh220 billion has been moved through Pesalink, a payment system owned by the Kenya Bankers Association (KBA). The increase is more than two-fold - from Sh87 billion that had been transacted by October last year.
However, the transactions are few compared to those on mobile money services such as Safaricom's M-Pesa. Launched in 2017, PesaLink facilitates real-time inter-bank transactions. The application enables customers to transfer cash from their own account to those held in other banks or wire money to their mobile phones.
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