Pesapal Authorized by CBK and TCRA to Operate as Payment Gateway in Kenya and Tanzania

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Pesapal a Fintec company that operates in east Africa gets authorization by Central Bank of Kenya to operate as payment service provider and application service license in Tanzania.

This is a big boost to eCommerce in Kenya and Tanzania as traders will seamlessly receive their payment from clients.

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The Central Bank of Kenya has granted authorization to Pesapal Limited as a Payment Service Provider (PSP) to carry out Payment Gateway Services in compliance with the National Payment System (NPS) Act, 2011, NPS Regulations 2014.

The Tanzania Communications Regulatory Authority (TCRA), has issues Pesapal with National Application Service License (AS). This will effectively enable Pesapal to operate in the country.

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“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,” Mwongela said, Pesapal Kenya CEO.

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

“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,” Bupe Mwakalunda, Pesapal Tanzania Country Manager said.

With the Pesapal payment gateway, businesses will accept online payments seamlessly. For consumers, shoppers, tourists and visitors coming to Kenya will have access to a secured payment service. Moreover, consumers will now be able to transact online from the comfort of their homes. All this will be carried out in a secured online environment.

Pesapal’s vision is to be Africa’s safest and most convenient way to pay and get paid. The company intends to lead as a reliable payment service provider in Africa that offers digital financial services for individuals and businesses by providing alternative payments solutions for merchants and consumers.

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