Boost for E-commerce as Pesapal Meets Regulatory Requirements in Kenya and Tanzania

E-commerce and payment gateway Pesapal Limited has received accreditation as a Payment Service Provider in Kenya and an Application Service License for Tanzania.

The twin milestones will enable consumers and businesses in the two East African
economies to make and receive online payments seamlessly.
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.
In Tanzania, the company has received the National Application Service License (AS)
from Tanzania Communications Regulatory Authority (TCRA), effectively enabling
Pesapal to operate in the country.

Pesapal Chief Executive Officer Mark Mwongela said the pandemic has accelerated
the drive towards digital payments and the company is innovating to meet the
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,” Mr. Mwongela
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.

“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,” Ms. Bupe
Mwakalundwa, Pesapal Tanzania Country Manager said.

Founded in 2009, Pesapal currently operates in Kenya, Uganda, Tanzania, Rwanda,Malawi and Zimbabwe. Principally the financial technology (fintech) company offers e-
commerce and point-of-sale (POS) payment processing support.

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.
Its operations in Tanzania will greatly support the national digital and financial inclusion
agenda. In all its markets, Pesapal has significantly democratized payments by
providing affordable, innovative, and customized payment solutions to businesses and
consumers.