Financial Services

Pesapal’s Introduction of Real-Time Payment Settlement Offers a Boost to SMEs

Pesapal CEO and Founder, Agosta Liko, emphasized the significance of Pesapal’s latest offering during the launch event. By introducing real-time settlement for merchants in Kenya through their e-wallet Openfloat, Pesapal enables swift transfer of funds directly into merchants’ accounts. This advancement brings numerous advantages to merchants, including expedited access to funds, enhanced cash flow management, decreased fraud risks, and improved customer experiences. The introduction of real-time settlement empowers businesses, particularly SMEs and larger organizations, granting them the flexibility to efficiently handle their finances and execute time-sensitive payments. Liko further highlighted that this innovative feature ensures immediate availability of funds to merchants, facilitating streamlined operations and enabling better financial decision-making.

“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.

Openfloat users, specifically merchants, gain access to a range of advantages, such as the ability to receive payouts directly to their bank accounts or mobile money services. Additionally, they can easily monitor their cash flow in real-time by viewing transaction reports.

With a strong presence in Kenya, Uganda, Tanzania, and Rwanda, Pesapal operates across multiple countries. The organization boasts a significant monthly transaction volume, processing over 12 million transactions. Furthermore, Pesapal has set an ambitious goal to connect one million African entrepreneurs to e-commerce, digital payments, and the global financial system by the year 2030.

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