Pesapal Limited, a Payment Service Provider (PSP), has been granted authorization by the Central Bank of Kenya(CBK) to provide Payment Gateway Services.
A payment gateway is defined as an online payments’ service that, when integrated with the e-commerce platform, is devised as the channel to make and receive payments.
Once posted, the customer proceeds to make a payment, which gets transferred from the buyer’s account to the seller’s account.
Pesapal has been granted this license in compliance with the National Payment System(NPS) Act 2011 and NPS Regulations 2014.
Pesapal corporate history
Established some 12 years ago, Pesapal is a payment gateway service through which clients can process payments via Mobile money, Cards and Mobile banking.
The firm brings together local Mobile money payment methods, VISA, MasterCard and American Express. By connecting once, one can have access to all for both online and over the counter payments. It thus provides a simple, safe and secure way for individuals and businesses to make and accept payments in Kenya.
“We are delighted to have this authorization by the CBK. We will continue to enable payments for merchants and consumers,” says Mark Mwongela, the firm’s CEO.
The PSP’s objective is to democratize payments by providing affordable, innovative, and customized payment solutions to businesses and consumers alike.
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