The firm has been granted a Payments Systems Operator licence in line with the National Payments System Act, 2020, which seeks to streamline burgeoning fintech space in Uganda.
By obtaining the license,Cellulant will be able to develop its operations locally and regionally while providing reassurance to its business partners that the firm complies with local and international security regulations.
Having partnered with 6 financial institutions and over 50 merchants in Uganda, the tech firm is availing proximity mobile banking and checkout solutions to its merchants across the country.
“We welcome this development and are delighted that the Bank of Uganda has now licensed Cellulant Uganda as a Payment Systems Operator (large funds transfer),” Cellulant Chief Risk & Compliance Officer Frances Diribe said.
“Uganda currently has over 800,000 registered businesses and a fast-growing digital youthful population. We’re on course to double down our work in offering these businesses and their clients’ dependable payment options. By streamlining the business payment process, they can concentrate on growing themselves,” he said.
In 2009, Cellulant launched operations in Uganda through its single API payments gateway – Tingg, enabling global, regional and local businesses to collect payments online and offline serving its customers with locally relevant payment methods, including mobile money, cards & banks.
Some of its clients include Emirates, Kenya Airways, Jambojet, and Ethiopian Airlines, among others.
Other are Rubis, Oryx, Jumia, Kiku, MultiChoice, StarTimes, Zuku, National Water, and Umeme, among others.