Tanda secures CBK eMoney issuer license

Emerging as only the sixth entity to secure the CBK eMoney Issuer License, Tanda's accomplishment comes as a boost to the firm's goal of enhancing financial inclusion across Kenya and East Africa.

This sets the stage for the introduction of TandaPay, which promises a myriad of advantages for consumers.

 Notably, TandaPay enables customers from all mobile money networks to conduct payments through the TandaPay Till using *712# conveniently and at no cost.

Moreover, merchants enlisting in TandaPay can now obtain a FREE TandaPay Till, facilitating receipt of payments from any mobile money network via *712#.

 This feature streamlines payouts to Tills, Paybills, or Saccos, while the TandaPay App and Online Dashboard empower merchants to efficiently manage collections and disbursements.

Geoffrey Mulei, Co-founder and CEO of TandaPay, expressed the significance of obtaining the eMoney Issuer License, stating, "Receiving the eMoney Issuer License is not just a regulatory achievement; it's a significant step towards realizing our mission of unlocking economic opportunities for people and businesses across Kenya through mobile wallets."

"The time is ripe to challenge the closed-loop model of incumbent telco-driven mobile money solutions. Users want a single, seamless wallet to manage all transactions, regardless of bank, SACCO, or fintech affiliation. TandaPay is among Kenya's first fully interoperable regulated mobile payment systems, seamlessly integrating all channels within a single wallet," he said.

Tanda aims to foster a robust ecosystem by collaborating with merchants, SACCOs, Fintechs, and other entities. With a target of reaching 500,000 wallets in its inaugural year and empowering over 10 million customers in the long term, Tanda endeavors to make a substantial contribution to Kenya's economic advancement.

Since its inception, Tanda has spearheaded the delivery of innovative financial solutions across Kenya. 

Committed to ensuring universal access to financial services, Tanda has successfully cultivated an ecosystem serving over 40,000 businesses, catering to more than 2,000,000 individuals, and engaging over 150 developers.