Pesapal Uganda has received a Payment System Operator license from the Bank of Uganda pursuant to the National Payments Systems Regulation, 2021.
By leveraging technology to make financial services affordable, convenient, and secure, Pesapal is empowering tens of thousands of merchants and millions of consumers in markets across Africa to thrive.
“At Pesapal, we give people and businesses better ways to pay and get paid. Now, with the Bank of Uganda’s regulatory greenlight, 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,” Pesapal Uganda Country Director Martin Barungi said.
The authorization, he said, gives Pesapal a license to drive cashless transactions and related benefits, including financial inclusion and convenience, by simplifying the processing of payments and expanding how, what type and how fast businesses can get paid and access their funds.
“We are delighted to have received the license from Bank of Uganda as this development sets us on course to revolutionize the digital payment ecosystem with innovative, convenient and secure digital financial services,” Ms Emmy Rono, Pesapal Uganda Country Manager noted.
“Consumers, in any context – shoppers, tourists, visitors, and businesses can make multi-currency transactions (UGX, USD etc.), from any scheme (Visa, Mastercard, American Express etc.) – either online, in a 3-D Secure environment, or in store, using the Pesapal POS machine, seamlessly.”
“Pesapal’s vision is to Empower Africa to access affordable, convenient, and secure digital financial services that drive sustainable growth. We believe this formal foray into the Pearl of Africa, the source of the Nile, is a fitting step towards this future.”