Kenyans living abroad will now be able to send money home faster, cheaper, and more reliably thanks to a new collaboration between Pesalink, NALA, and Equity Bank.

The partnership brings together Pesalink’s instant payment rails, NALA’s global fintech platform, and Equity Bank’s vast local network to simplify last-mile remittance transfers into Kenya.

This comes as diaspora remittances hit a record US$4.94 billion (approximately Sh642 billion) in 2024, making them one of Kenya’s most critical sources of foreign exchange.

Through the NALA app, Kenyans in the US, UK, and Europe can send money through a debit card or bank account.

The funds land almost instantly in recipients’ mobile wallets or bank accounts, cutting out traditional intermediaries that often slow down transfers and increase transaction costs.

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Equity Group Head of International Banking & Payments Samuel Ireri said the move aligns with Equity’s Africa Recovery and Resilience Plan, which seeks to fuel inclusive economic growth.

“This is about making remittances not just faster, but more reliable and accessible, particularly for underserved communities,” explained Ireri.

Pesalink, which supports instant account-to-account transfers of up to Sh999,999 across more than 80 banks, SACCOs, telcos, and fintechs, will act as the payment backbone.

Kenn Lisudza, Chief Products Officer at IPSL (the firm behind Pesalink), indicated that the deal removes friction from cross-border payments.

“Driving inclusion and reliability for millions of Kenyans is at the heart of this partnership,” Lisudza intimated.

For Kenyan families and businesses relying on remittances, the near real-time transfers mean better planning and cash flow.

For fintechs and remittance companies, the deal unlocks access to Pesalink’s trusted infrastructure and detailed payment data boosting reconciliation and fortifying Kenya’s financial ecosystem.

NALA COO Nicolai Eddy highlighted how billions of shillings are lost every year to cross-border payment fees, which he says the strategic partnership intends to address.

“By working with the right infrastructure partners, we can cut costs while making transfers faster and more reliable for everyone,” indicated Eddy.

With remittances continuing to grow as a pillar of Kenya’s economy, the partnership between Pesalink, NALA, and Equity Bank marks a significant step toward digitising remittance flows and delivering more value to millions of Kenyans both at home and abroad.