Pesapal Tanzania Limited licensed as a Payment Systems Provider by Bank of Tanzania

Pesapal Tanzania Limited licensed as a Payment Systems Provider by Bank of Tanzania

On 17 August 2022

Dar es Salaam: Pesapal Tanzania Limited has been licensed as a Digital Payment Systems Provider in Tanzania under the National Payment System Act, 2015. The license granted by the Bank of Tanzania will give Pesapal -  which powers payments for over fifty thousand small and medium size businesses in Kenya and Uganda — the ability to provide a range of secure, convenient, and innovative digital financial products and services for its customers across Tanzania. These include providing online and point-of-sale payments seamlessly.

The authorization by the Bank of Tanzania is the most recent of a string of successes in the African Market where Pesapal already operates. Pesapal has received similar regulator approval in Kenya and Uganda and has a growing reputation as the largest Fintech in East Africa . Penetrating and expanding its operations in Tanzania is a beneficial strategic move for Pesapal, which hopes to gain a foothold in the market, and enable Tanzanians to derive value from access to innovative, secure, and economical digital financial solutions.

“We share the philosophy of the Bank of Tanzania in that we believe that technology is a key driver for economic growth and allows us to drive digital inclusion in Tanzania. At Pesapal, our goal is to leverage technology to build payment solutions that simplify how consumers and businesses get paid. More than that, we want to provide Tanzanians with access to Digital Financial products which are well suited for enterprises, SMEs, online merchants, individuals, and others currently underserved by traditional payment mechanisms,” Bupe Mwakalundwa, Pesapal Tanzania Country Manager, said.

According to Agosta Liko, Pesapal Group CEO and Founder, “Pesapal is proud to be playing a major role in disrupting payments services for the better. As a service-oriented, product-driven, and technology-intensive organization, we have the tools to drive change in digital financial services. We will do this by providing solutions that ensure superior customer experience, help people streamline their financial lives, and continue to support businesses by solving the complexity of handling payments. The opportunities are tremendous, and it is an exciting prospect.”

“Pesapal was founded in 2009 to make it easy for people and businesses to pay and get paid. In the last 11 years, technology has evolved, excited, and transformed the world around us, and so has our mission, which, while it remains as relevant as ever - to make payments simple and safe, goes beyond payments. We wish to build an innovative financial services ecosystem for businesses and consumers anchored by integrity and unmatched value”, he added.

Besides powering online and in- store payments, Pesapal’s product offering include products such as: Online Invoicing and Payments Page – perfect for SMEs and freelancers; suite of applications designed to support Hotels (for hotel reservations, rate management, revenue management etc.), Restaurants (Online ordering, Channel manager, payments etc.) and Flights and Oracle Hospitality. Rounding off its impressive portfolio is – an Events Management and Ticketing Platform that has simplified events management and cemented Pesapal as a financial services partner and a lifestyle partner.

“ Obtaining the PSP license in Tanzania is a natural next step for Pesapal, enabling us to broaden our product portfolio for our customers and merchants”, added Bupe

Pesapal's vision is to Empower Africa to access affordable, convenient, and secure digital financial services that drive sustainable growth.

About Pesapal
Pesapal is a digital financial services company that enables a simple, convenient, and secure way for individuals and businesses to make and accept payments. With Pesapal you can shop or pay for the things you love and the services you need, enable your customers to pay you online through our payment links, invoicing page or on your website, accept debit/credit card and mobile money payments via our point-of-sale (POS) machine (Pesapal Sabi). For end-users, Pesapal’s purpose has always been to make payments simple, frictionless and safe. For businesses, Pesapal strives to lower the cost of collecting money by offering an easily accessible, reliable, and cost-effective way for collection and settlement and tracking transactions in real time. 

Published In: news

Subscribe to our Blog