The Central Bank of Kenya (CBK) has granted authorization to Pesapal to act as a Payment Service Provider (PSP). Pesapal can now carry out Payment Gateway Services in compliance with the National Payment System (NPS) Act, 2011, NPS Regulations 2014.
Since its inception in 2009, Pesapal has provided a simple, safe and secure way for individuals and businesses to make and accept payments in Kenya. The company has also democratized payments by providing affordable, innovative, and customized payment solutions to businesses and consumers.
Commenting on the company’s new status, Mark Mwongela, CEO Pesapal said, “We are delighted to have this authorization by the CBK. We will continue to enable payments for merchants and consumers.”
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’s vision is to be Africa’s safest and most convenient way to pay and get paid. They intend to lead as a reliable Payment Service Provider in Africa that offers Digital financial services for individuals and businesses.
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. It operates in Kenya, Uganda, Tanzania, Malawi, Zambia, Rwanda and Zimbabwe.