Boost for Businesses as Pesapal Introduces Real-Time Settlement of Payments in Kenya

Boost for Businesses as Pesapal Introduces Real-Time Settlement of Payments in Kenya

On 30 May 2023

Nairobi, Kenya May 30, 2023… Pesapal, a leader in building payments and business tools for Africa, has introduced real-time settlement for merchants in Kenya, enabling the instantaneous transfer of funds into their accounts.

Merchants will now instantly receive funds from their Pesapal account to their bank account or mobile wallet through Pesapal's e-wallet solution - Openfloat. Openfloat is an e-wallet that allows businesses to withdraw funds from their Pesapal account to their mobile wallet.

Real-time settlement offers several benefits to merchants, including faster access to funds, improved cash flow management, reduced risk of fraud, and better customer experience. The move, therefore, empowers businesses, especially Small and Medium Sized Enterprises (SMEs), with the flexibility to manage their money and make time-sensitive payments.

Speaking during the launch, Pesapal CEO and Founder Agosta Liko said this new feature ensures that funds are available to merchants immediately, enabling businesses to streamline their operations and make better financial decisions.

"We are thrilled to introduce real-time settlement on the Pesapal platform. From now on, our merchants will have their funds transferred to their bank account or mobile wallet instantly," Pesapal Group CEO Agosta Liko said. "This new feature will help them to improve their cash flow and better manage their businesses."

With real-time settlement, merchants can receive their funds quickly, making it a faster and more efficient payment method. It can be used for various types of payments, including online purchases, mobile payments, and point-of-sale transactions.

Merchants using Openfloat can receive their funds instantly instead of waiting for a traditional settlement period, which can take several days. This allows businesses to access their funds faster and helps improve their cash flow management. In addition to the real-time settlement, Openfloat provides businesses with various other features and benefits, including viewing their transaction history and tracking their cash flow in real-time.

Pesapal has a widespread of touchpoints across Kenya, Uganda, and Tanzania. In Kenya, Pesapal boasts over 33,000 active point-of-sale devices, facilitating online transactions daily and connecting nearly a million entrepreneurs to e-commerce, digital payments and the global financial system

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