The Central Bank of Kenya (CBK) has granted authorization to Pesapal Limited as a Payment Service Provider (PSP) to carry out Payment Gateway Services in Kenya
Pesapal has also been granted the National Application Service License (AS) by the Tanzania Communications Regulatory Authority (TCRA) with an aim 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 that due to the pandemic the drive towards digital payments has skyrocketed and the company is innovating to meet 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 says the two approvals are expected 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.
Pesapal currently operates in Kenya, Uganda, Tanzania, Rwanda, Malawi, and Zimbabwe.