Kenya’s digital financial service provider JamboPay has been granted authorization as a Payment Service Provider (PSP) by the Central Bank of Kenya (CBK).
The authorization allows the fintech to provide payment gateway and e-wallet services in Kenya.
The company has recently acquired an MVNO license from the communications Authority of Kenya.
This means that Jambo Pay intends to provide digital financial services over multiple channels including over mobile network.
JamboPay has been a business to business e-payments provider for the last 12 years with significant impact in the Public Sector.
The company has recently embarked on a shift to consumer market services.The new license allows the fintech to provide consumer services.
“We are delighted to receive the PSP authorisation from the CBK at a time when we are entering a new phase of exciting new products for our customers. We appreciate the role played by the CBK in fostering growth in digital innovation within a safe financial market environment,” said Irene Makau, the head of legal and compliance at JamboPay.
Title: "WATCH: The biggest news in African Business"