E-payments firm PesaPal gets regulatory approval in Kenya and Tanzania

KENYA – Pesapal, an electronic payments company, has been accredited by the Central Bank of Kenya (CBK) as a payments solutions provider to carry out Payment Gateway Services.

The fintech has similarly been granted the National Application Service License (AS) by the Tanzania Communications Regulatory Authority (TCRA) in what is expected to help the firm deepen cross-border e-commerce payments by enabling customers and businesses to make and receive payments seamlessly.

Pesapal Chief Executive Officer Mark Mwongela said the pandemic has accelerated the drive towards digital payments and the company is innovating to meet the emerging customer trends like e-commerce.

“We are excited about the regulatory approvals. This demonstrates our commitment and ambition to impact the online payments ecosystem. I believe this will enable the e-commerce businesses to grow and expand further in East Africa,” said Mwongela.

Pesapal expects the two approvals to help consumers, shoppers, tourists and visitors coming to Kenya to have access to a secured payment service.

“The pandemic has accelerated the move to a cash-lite economy. We are investing in Tanzania to reshape the future of commerce. For merchants, digital payments mean reducing costs associated with handling and losing cash and broadening their customer base as more and more people move away from cash,” said Bupe Mwakalunda, Pesapal Tanzania Country Manager.

For merchants, digital payments mean reducing costs associated with handling and losing cash and broadening their customer base as more and more people move away from cash”

Bupe Mwakalunda – Pespal Country Manager, Tanzania

In 2019 Pesapal announced the integration of Samsung Pay, Apple Pay, FitBit Pay and Google Pay payments on its new tap-and-go, contactless Sabi M010 terminals.

Business owners across East Africa have since then been able to conveniently accept digital wallet payments from their customers as more consumers look for cashless options for making payments.

Pesapal was founded in 2009 and it provides a secure platform for individuals and businesses to make and accept payments in Africa.

They offer a variety of options for end-users to make payments for products they are purchasing both online and at the point of sale.

Pesapal currently operates in Kenya, Uganda, Tanzania, Rwanda, Malawi and Zimbabwe.

Pesapal’s vision is to be Africa’s safest and most convenient way to pay and get paid and they intend to lead as a reliable Payment Service Provider in Africa that offers Digital financial services for individuals and businesses.

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