Pesapal, an electronic payment fintech, is now accredited by the Central Bank of Kenya as a payment solutions provider. The company has also received a service license. According to Pesapal, the regulatory approvals will enable it to employ digital e-commerce services through accelerated innovation in digital payments.
The Tanzania Communications Regulatory Authority has now issued a National Application Service Licence for operating in the country. Mark Mwongela, Pesapal CEO expressed excitement on the regulatory approvals demonstrating “commitment and ambition to impact the online payments ecosystem.”
As a payment gateway, customers can use their credit cards, mobile, and bank networks to settle bills on the portal. This enables e-commerce businesses to grow and expand across East Africa. Pesapal was founded in 2019 but has operations in Uganda, Rwanda, Tanzania, Zimbabwe, and Malawi.
Pesapal previously announced integration into Apple Pay, Samsung Pay, Google Pay’s tap-and-go, and FitBit Pay. The fintechs vision looks to become Africa’s safest and convenient way to pay and get paid in leading as a reliable Payment Service Provider across Africa while offering Digital financial services for both individuals and businesses.