Payless has announced the introduction of its Bank-to-Payless feature giving customers higher transaction limits to their wallets.
According to the payment financial technology firm, the new feature now allows consumers to transfer up to Ksh 250,000 per transaction and up to Ksh 500,000 daily directly from their bank accounts to their Payless wallets, bypassing traditional mobile money rails.
“This feature is a game-changer that our customers have been yearning for since our launch. With this capability, we’re enabling our users to ‘load and cruise,’ breaking free from traditional mobile money constraints. It’s a testament to our commitment to making financial services accessible, affordable, and fun,” said Kevin Mulei, Payless Chief Executive Officer.
The firm says the feature which has been introduced due to consumer demand marks a significant milestone in the company’s mission to create the most affordable Pan-African payments and financial services superapp.
By leveraging existing payment rails and partnering with three leading banks, Payless has removed the friction associated with intermediaries, unlocking a new level of affordability and convenience for its growing user base.
“Now our #GenZ and #GenFree customers can load directly from banks or request payments to be made into their Payless wallets—including salaries and wages. This takes us closer to redefining what a superapp can achieve, breaking barriers and accelerating financial inclusion for the youth across Kenya and Africa,” added Derrick Gakuu, Payless Chief of Operations.
The firm now banks on the improvement to grow its customers base from the current 500,000 users as one Kenya’s fastest-growing fintech platforms.
The Bank-to-Payless feature represents a cornerstone in Payless’ strategy to deliver impactful, user-centric solutions. The company has also hinted at “disruptive, innovative features” planned for 2025, further solidifying its role as a trailblazer in the fintech space.
