Kenya: Boost for SMEs as Pesapal Unveils Real-Time Payments Settlement in Kenya

30 May 2023
Capital FM (Nairobi)
By Kevin Rotich

Nairobi — Digital payment platform Pesapal has introduced a real-time settlement for merchants in Kenya, enabling fast transfer of funds into their accounts.

Through Pesapal's e-wallet Openfloat, merchants who use the Pesapal platform can receive funds faster.

Real-time settlement offers several benefits to merchants, including quicker access to funds, improved cash flow management, reduced risk of fraud, and better customer experience.

The development, therefore, empowers businesses, especially Small and Medium Sized Enterprises (SMEs) and large organizations, with the flexibility to manage their money and make time-sensitive payments.

Speaking during the launch, Pesapal CEO and Founder Agosta Liko said this new feature ensures that funds are available to merchants immediately, enabling businesses to streamline their operations and make better financial decisions.

"We are thrilled to introduce real-time settlement on the Pesapal platform. From now on, our merchants will have quicker access to their funds, ultimately improving the health of their business," Pesapal Group CEO Agosta Liko said.

Merchants using Openfloat enjoy various benefits which include payouts to bank accounts and mobile money. One can view transaction reports and track their cash flow in real-time.

Pesapal has a footprint across Kenya, Uganda, Tanzania and Rwanda.

The organization processes over 12 million transactions monthly and is on track to connect a million African entrepreneurs to e-commerce, digital payments and the global financial system by 2030.

Read the original article on Capital FM.

Tagged:
Copyright © 2023 Capital FM. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.