The number of licensed payment service providers in Kenya has doubled this year, pointing to how lucrative the sector is.
The number of providers rose to 17 as at the end of August, from nine firms at the end of 2021. Four firms were issued with permits last month, according to a list by the Central of Kenya.
Direct Pay Limited, Pesawise Services Limited and Craft Silicon Limited, Virtual Pay International Limited received their licences in August. Other companies that received the licence this year are Finserve Africa Limited, Web Tribe Limited, Cellulant Kenya Limited and Kenya Airports Parking Services (KAPS) Limited.
The adoption of bank cards to shop has risen significantly in the last decade indicating increased consumer preference for the convenience of the payment option.
The Covid-19 pandemic also significantly boosted prospects for those offering digital payment services, as more consumers adopted online shopping, and reduced the usage of cash as one of the ways of curbing spread of the virus.
The crypto world is full of opportunities but can also pose risks. Whether it’s market…
When it comes to wearable AI, one of the biggest drawbacks has always been battery…
Health insurance and technology leaders in Kenya see Artificial Intelligence (AI) and real-time data as…
More than 1,500 global leaders, investors, and entrepreneurs are set to convene in Nairobi for…
Imagine a world where access to education, financial services, and healthcare depends on owning a…
The Galaxy S25 series of smartphones is now available for purchase in Kenya through authorized…