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Pesalink links with PAPSS to speed up African payments in Kenya

Tech • 3d ago
Pesalink links with PAPSS to speed up African payments in Kenya
**Speeding Up Africa's Payments: A New Partnership Takes Centre Stage in Kenya** Imagine being able to send money to your loved ones in Ghana or Senegal in a matter of seconds, no matter where you are in the world. Sounds like a dream come true? Well, a new collaboration between Pesalink and PAPSS is making this a reality for Kenyans and Africans alike. Pesalink, a popular mobile payment service in Kenya, has joined forces with PAPSS, a regional payment clearing house, to revolutionize cross-border payments in Africa. This innovative partnership promises to make transactions faster, cheaper, and more efficient. For millions of Africans who rely on remittances to support their families, this development is a welcome relief. The implications of this partnership are far-reaching. PAPSS, which stands for Pan-African Payment and Settlement System, is a payment clearing house that enables cross-border transactions across the continent. By linking with Pesalink, PAPSS is now able to facilitate instant payments in Kenya, using the Pesalink platform. This means that Kenyans can now send and receive money in other African countries in real-time, without the need for intermediaries or lengthy processing times. The benefits of this partnership are numerous. For one, it reduces the costs associated with cross-border transactions, making it more affordable for individuals and businesses to send and receive money. It also enables greater financial inclusion, as more people have access to fast and reliable payment services. Furthermore, this partnership aligns with Kenya's vision of becoming a regional financial hub, and demonstrates the country's commitment to driving innovation and economic growth in Africa. In the words of the CEO of Pesalink, "This partnership is a significant step towards achieving our goal of making payments faster, cheaper, and more accessible to all Kenyans." As Africa continues to grow and urbanize, the demand for fast and reliable payment services is increasing exponentially. With the Pesalink-PAPSS partnership, Africans can now look forward to a future where cross-border transactions are seamless, efficient, and convenient. As we move forward, it will be exciting to see how this partnership evolves and impacts the lives of millions of Africans. With the potential for greater financial inclusion, reduced costs, and increased economic growth, this collaboration is a significant step towards a brighter future for our continent.
Source: Original Article. AI-enhanced version.