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Sabipay Secures Payments License from the Bank of Zambia
Sabipay Technologies, a subsidiary of Pesapal Limited, is proud to announce that it has been granted a Payments System Business license by the Bank of Zambia. This milestone marks a major expansion of Pesapal’s footprint in the Zambian payment landscape, empowering the company to offer a wide range of customized payment solutions to businesses and consumers throughout the country.
The Payments System Business license is a critical authorization that enables Sabipay Technologies to deliver a comprehensive suite of payment solutions tailored to the diverse needs of businesses of all sizes. This includes capabilities for accepting online payments, in-store payments via mobile money, and card payments. With this license, Sabipay is set to enhance the efficiency and inclusiveness of the electronic payments ecosystem in Zambia.
"We are thrilled to receive the Payments System Business license from the Bank of Zambia. This achievement reinforces our commitment to expanding our footprint in the region and underscores our dedication to fostering financial inclusion and economic growth. With Sabipay, we aim to provide innovative, accessible, and user-friendly payment solutions that will transform how businesses and consumers engage in financial transactions," said Agosta Liko, CEO,Pesapal Limited.
As Sabipay Technologies commences operations under the new license, the Zambian fintech landscape is poised for exciting changes. Businesses will benefit from enhanced payment capabilities, consumers will enjoy more seamless transactions, and the overall financial ecosystem will become more inclusive and efficient. This development not only strengthens Pesapal's regional presence but also underscores the transformative potential of fintech in driving economic progress.
Significance of the License
The introduction of Sabipay's services heralds a notable transformation in how businesses in Zambia conduct transactions. From small retail shops seeking to accept mobile payments to large enterprises requiring robust online payment gateways, Sabipay's solutions are designed to cater to diverse requirements. The ability to manage payments across various platforms seamlessly ensures that businesses can offer a more flexible and convenient payment experience to their customers.
For consumers, the availability of a reliable and versatile payment system means more options and greater convenience. Whether paying for goods and services in-store, shopping online, or using mobile payment solutions, Sabipay’s offerings will simplify transactions and enhance the overall purchasing experience. This ease of use is expected to drive higher adoption rates of electronic payments among Zambians, further integrating the digital economy into daily life.
About Pesapal Limited
We’re the leading payment services company with local know-how in building payments and business tools for Africa. We're on track to connect a million African entrepreneurs and customers to electronic payments, e-commerce, and the gobal financial system by 2030. Pesapal is regulated by the Central Banks of Kenya, Uganda, Tanzania, Rwanda & Zambia and will be operating in the latter as Sabipay Technologies.
Source: AGENCIES
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