Airtel Money customers can now transfer funds directly from their mobile wallets to accounts held in 30 banks, Savings and Credit Co-operative Societies (SACCOs) and microfinance institutions following a new partnership aimed at expanding access to Kenya’s digital financial services.
The partnership between Airtel Money and Integrated Payment Services Limited (IPSL), the operator of Pesalink, is expected to simplify movement of money between mobile wallets and formal financial institutions while reducing the barriers associated with conventional bank to wallet transfers.
The integration allows Airtel Money subscribers to send money directly to participating financial institutions through the MyAirtel App or USSD platform, eliminating the need to withdraw cash before depositing it into bank or SACCO accounts.
Customers using the MyAirtel App can access the service by selecting the Pay Bill option, choosing their preferred financial institution, entering the recipient’s account number and specifying the amount before confirming the transaction.
The service is also available through the USSD platform by dialling *334#, providing an alternative for customers who may not have access to smartphones or mobile internet.
A key feature of the arrangement is its use of Pesalink’s interoperable payment infrastructure, which connects participating banks, SACCOs and microfinance institutions without requiring Airtel Money to establish separate technical integrations and bilateral agreements with every institution.
Airtel Money Acting Managing Director Michael Bonke said the partnership would strengthen the company’s position within Kenya’s wider financial services ecosystem by making transfers between mobile wallets and bank accounts more accessible.
He said the integration was part of the company’s broader efforts to improve financial inclusion, enhance convenience and give customers greater flexibility in managing their money.
“This partnership with IPSL enables us to extend our reach into the broader financial ecosystem through Pesalink. By facilitating wallet to bank transfers across multiple financial institutions, we are making it easier for customers to move money seamlessly between mobile wallets and bank accounts,” said Bonke.
He added that the integration reinforced Airtel Money’s commitment to expanding financial access and providing customers with convenient digital payment solutions.
To minimise transaction errors and strengthen consumer confidence, the platform incorporates an account verification feature that enables customers to confirm the recipient’s bank name and account details before completing a transfer.
Bonke said the development built on Airtel Money’s existing partnerships with banks, retail outlets, service providers and other digital payment platforms as the company seeks to expand its footprint in Kenya’s rapidly evolving digital payments market.
IPSL chief executive Gituku Kirika described the partnership as an important milestone in efforts to connect mobile money services with the country’s banking infrastructure.
He said Pesalink was designed to promote interoperability by allowing customers to move money across different financial institutions conveniently, affordably and without being restricted by the service provider holding their funds.
“Pesalink was built to make payments open and interoperable, giving customers the freedom to easily and affordably move money, regardless of where it is held,” said Kirika.
He added that the collaboration would give Kenyans more options for handling everyday financial transactions while strengthening connectivity between banking and mobile money platforms.
Beyond the initial wallet to bank transfer service, the partnership is expected to progressively introduce additional capabilities, including cash deposits and withdrawals through Airtel Money agents as well as person to merchant payments.
The planned expansion is expected to widen the network’s usefulness by allowing customers to access more financial services through Airtel Money’s agent network and facilitate payments to businesses.
Pesalink is an open and interoperable account to account payment network that supports instant, affordable and reliable transactions across more than 200 participating institutions, including banks, telecommunications companies, fintech firms and SACCOs.
The latest integration underscores the growing importance of interoperability in Kenya’s digital financial services sector, where mobile money platforms and traditional financial institutions are increasingly working together to expand payment options and improve access to financial services.
