Paystack receives license to commence business in Kenya

Paystack has joined a number of other providers that have been granted payments license to operate in Kenya. 

The company which was acquired by Stripe back in 2020 has announced that the Central Bank of Kenya (CBK) has authorised it to operate as a Payment Service Provider in Kenya.

‘’We’re thrilled to announce that Paystack has received a Payment Service Provider Authorisation from the Central Bank of Kenya, which permits us to provide payment services to businesses operating in Kenya’’ Vikaran Ubhi, Paystack’s Product Manager in Kenya

Kenya now becomes Paystack’s fourth African country after South Africa, Ghana and Nigeria. 

‘’In every country in which we operate, Paystack strives to build fast, secure, and reliable payment services for businesses and customers. We’re thankful to receive the authorisation required to operate in full compliance with regulations.’’ Vikaran added.

At the same time,  the payments firm also announced the launch of its Kenya Private Beta programme. The company says it will work with an initial group of businesses to refine its platform in Kenya, implement feedback, and ensure that it builds a fast, reliable, truly delightful payment experience.

With this licence, Paystack will enable Kenyan businesses to accept both one-time as well as automated recurring card payments, collect payments from customers through several local and global payment channels, including M-Pesa, Card payments (Visa, Mastercard, American Express), and Apple Pay.

With the new license businesses in Kenya can now use Paystack accept both one-time as well as automated recurring card payments, collect payments from customers through several local and global payment channels, including M-Pesa, Card payments (Visa, Mastercard, American Express), and Apple Pay among other benefits.