Paystack, the Nigerian payments company owned by Stripe, has enabled businesses in Kenya to collect payments via Pesalink, the interbank transfer network operated by the Kenya Bankers Association. The integration, announced on Wednesday, allows Paystack merchants to generate instant Pesalink payment links for customers, who can then complete transactions directly from their bank accounts without needing a debit card.
The move connects Paystack's platform, which is used by thousands of businesses across Africa, to a critical piece of Kenya's financial infrastructure. Pesalink facilitates real-time, low-cost transfers between accounts at more than 40 participating financial institutions in the country. By adding it as a payment option, Paystream aims to capture a larger share of Kenya's digital commerce, where bank transfers remain a popular method alongside mobile money services like M-Pesa.
Paystack's country manager for Kenya, Shola Makanjuola, stated that the integration addresses a specific merchant need. "Our merchants have been asking for more local payment methods, and Pesalink is a key rails for bank transfers in Kenya," Makanjuola said. The company noted that the feature is available to all Paystack merchants in Kenya at no additional integration cost.
The development occurs as African fintechs increasingly focus on interoperability, seeking to bridge different payment systems within and across borders. In a separate but related regional trend, Rwanda's central bank recently directed that all interoperable transactions between bank accounts, mobile wallets, and microfinance institutions must be processed through the national switch, EKash, by the end of 2026. That consolidation aims to reduce fragmentation and lower transaction costs.
Paystack's expansion in Kenya, a market with high mobile money penetration and competitive digital payments, represents a strategic effort to deepen its service offerings beyond card payments. The company, which was acquired by Stripe in 2020, has been building out its presence in key African markets, including Ghana and South Africa, often by integrating with dominant local payment channels.