PesaLink and Postbank Open 600+ Cash Deposit Points

In Short

Postbank PLC has partnered with PesaLink to let customers of participating financial institutions make cash deposits at Postbank’s agent and branch network across Kenya.

What Happened: How Postbank And PesaLink Share Agent Cash Deposits

Postbank PLC and PesaLink have partnered to allow Postbank agents to accept cash deposits from customers of other participating banks.

Under the arrangement, customers of participating financial institutions can now deposit money at any of Postbank’s more than 600 agents and branches across Kenya.

Postbank has previously offered agent banking to other lenders through one on one bilateral agreements. The new integration with PesaLink means Postbank can connect its agent network to “all participating institutions at once,” instead of doing separate technical integrations and separate contracts for each institution.

Gituku Kirika, Chief Executive Officer of Integrated Payment Services Limited (IPSL), said, “Agent banking remains one of the most important ways that Kenyans access financial services.” He added that banks and SACCOs can open their existing agent networks to other institutions, which gives customers “more places to transact” while helping institutions get more value from their networks.

Dr. Raphael Lekolool, Managing Director at Postbank PLC, said Postbank “pioneered agent banking since 1978” and has continued to invest in agent banking across Kenya. He said making the network accessible to customers of other participating financial institutions extends the value of that investment and creates more opportunities for Postbank agents.

During the initial phase, the service supports cash deposits only. Withdrawals through this specific arrangement are not yet available.

Why It Matters: Interoperability And More Cash Access Points

The report says there are over 93,341 bank agents across Kenya. It also notes that while digital payments are growing, cash is still a large part of daily life.

By linking agent networks together through a shared payments infrastructure, participating institutions can expand deposit access without each bank having to build and maintain its own large agent network.