Virtual Pay International Limited , a Pan-African, omni-channel Payment Service provider has been granted authorization as a Payment Service Provider (PSP) to carry out Payment Gateway Services in compliance with the National Payment System (NPS) Act, 2011, NPS Regulations 2014.
This license allows Virtual Pay to offer its payment processing services to merchants, local and international.
According to the company,their objective is to play a pivotal role in the growth of the financial sector, contributing to the growth of the economy at large.
The company also stated that they purpose to collaborate with all sector players in the market, namely, banks, non-bank financial institutions, major card schemes to ensure that the company is able to scale our operations for the benefit of all stakeholders.
“We are humbled by the approval from the Central Bank, to offer our services to the Citizens of Kenya, and the global economy at large. We understand the importance of this license, and the regulatory and compliance expectations from the CBK. We shall continue to steadfastly adhere to all regulations and compliance directives, while offering innovative, exciting and state of the art services to all our partners” says David Morema, Virtual Pay Group CEO.
The company was established in 2019 and currently it has a wide footprint across Africa, the Indian Ocean, and Dubai .