Nineteen Kenyan Banks Slash PesaLink Fees to Zero to Challenge M-Pesa

Nineteen Kenyan commercial banks have coordinated a reduction of PesaLink interbank transfer fees to zero or flat rates, a move framed as a direct competitive response to M-Pesa's dominance of everyday low-value transactions. The fee cuts signal a renewed push by traditional banks to recapture retail payment volumes in Kenya's highly contested mobile money market.