Pespal Receives Payment System Operator License in Uganda

Pespal has announced that the Bank of Uganda has granted them Payment System Operator License.

Pesapal has been at the forefront of the Digital Payments revolution in Africa for over a decade. 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.

Pursuant to the National Payments Systems Regulation, 2021, Bank of Uganda has granted Pesapal Uganda a Payment System Operator license.

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.

The authorization, he said, gives Pesapal 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.

Martin Barungi, Uganda Country Director, Pesapal

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.

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.

Ms. Emmy Rono, Uganda Country Manager, Pesapal

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. 

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