Electronic payments firm Pesapal has been accredited by the Central Bank of Kenya (CBK) as a payments solutions provider, while in Tanzania, it has received a service licence.
The fintech company says the regulatory approvals will enable it to offer digital e-commerce services seamlessly as it accelerates innovation in digital payments.
The Tanzania Communications Regulatory Authority (TCRA) issued the firm with a National Application Service Licence, which allows it to operate in the country.
“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 Pesapal chief executive officer Mark Mwongela.
Pesapal is a payment gateway enabling customers to use their credit cards, banks and mobile networks to settle bills from one portal.
“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 Ms Bupe Mwakalundwa, Pesapal Tanzania country manager.
Pesapal operates in Kenya, Uganda, Tanzania, Rwanda, Malawi and Zimbabwe since it was founded in 2009.
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