Virtual Pay granted authorisation by CBK to carry out Payment services
Virtual Pay International Limited has been granted authorization as a Payment Service Provider (PSP) from the Central Bank of Kenya(CBK).
The firm will now be able to to carry out Payment Gateway Services in compliance with the National Payment System (NPS) Act, 2011, NPS Regulations 2014.
This license also allows Virtual Pay to offer its payment processing services to merchants, local and international.
“We are humbled by the approval from the Central Bank of Kenya, to offer our services to the Citizens of Kenya, and the global economy at large. We understand the importance of this license, and the regulatory and compliance expectations from the CBK. We shall continue to steadfastly adhere to all regulations and compliance directives, while offering innovative, exciting and state of the art services to all our partners” says David Morema, Virtual Pay’s, Group CEO.
The firm plans to collaborate with all sector players in the market including banks, nonbank financial institutions, major card schemes etc., to scale their operations in the country.