PEP Intermedius is a network of cash merchants that serves as the bridge for unbanked customers and the financial system.

PEP Intermedius is a network of cash merchants that serves as the bridge for unbanked customers and the financial system.

In Kenya, millions of people use mobile banking every day to transfer money to family, business partners and relatives by phone. This service involves exchanging cash for virtual funds, or ‘e-float’, at a ‘cash merchant’ where money is deposited or withdrawn. The cash merchants serve as the bridge for customers between cash and ‘e-float’ one the one hand, and the financial system on the other.

To keep the system running, an intermediary like PEP Intermedius helps cash merchants manage their liquidity. PEP Intermedius benefits a range of stakeholders. The poor gain access to financial services in their own communities, merchants increase their sales, and financial institutions gain access to a vast new customer segment.

Since 2014 PEP Intermedius operates its own agent stores under the PesaPoint brand through Pesatransact, its subsidiary co-owned with Interswitch.