Bank of Uganda accredited Pesapal to process payments in the country pursuant to the National Payments Systems Regulation, 2021.
The Payment System Operator license will allow the company, which has been facilitating financial transactions in Africa for over a decade to make financial services affordable, convenient, and secure for Uganda.
The company is already 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 green light, 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," said Pesapal Uganda Country Director Martin Barungi.
"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," said Pesapal Uganda Country Emmy Rono.
“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."