Pesapal gets regulatory nod in Uganda

Kenyan domiciled digital payments provider Pesapal has obtained a payment system operator license from the Bank of Uganda (BOU).

The approval by Uganda’s Central Bank will allow the company to scale its cashless transactions, financial inclusion and convenience.

“At Pesapal, we give people and businesses better ways to pay and get paid. Now, with the Bank of Uganda’s regulatory green light, we will be able to hunker down in our continued effort to change the face of digital financial services in Uganda as a key stakeholder of its financial ecosystem,” noted Pesapal Country Director Martin Barungi.

Pesapal has sat at the apex of driving digital payments on the continent for the last decade.

The company seeks to be Africa’s safest and most convenient payment channel presence in five other markets besides Kenya and Uganda including Malawi, Tanzania, Rwanda, Zambia and Zimbabwe.

The payments gateway has partnerships with other payments firms including Visa, Mastercard, American Express, Mpesa, Airtel Money, Africell and MTN.