Pesapal said the arrival of Sabipay's services marks a significant shift in the way firms in Zambia handle transactions

Sabipay Technologies, a subsidiary of fintech Pesapal Limited, has been granted a payments system business licence by the Bank of Zambia.

The fintech announced the development yesterday, stating that it signals a significant extension of Pesapal's presence in the Zambian payments landscape.

The payments system business license, according to Pesapal, is a crucial approval that allows Sabipay Technologies to provide a full suite of payment solutions adapted to the unique demands of businesses of all sizes.

This includes the ability to accept online payments, in-store payments via mobile money, and card payments.

Pesapal believes that Sabipay's license will improve the efficiency and inclusiveness of Zambia's electronic payments ecosystem.

"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 of Pesapal Limited.

In addition, Pesapal added that the arrival of Sabipay's services marks a significant shift in the way firms in Zambia handle transactions.

It added that from small retail stores looking to take mobile payments to major enterprises wanting modern online payment gateways, Sabipay's solutions are built to meet a wide range of needs.

"The ability to manage payments across various platforms seamlessly ensures that businesses can offer a more flexible and convenient payment experience to their customers," said the fintech.

The fintech company stated that it is on track to connect a million African enterprises and customers to electronic payments, e-commerce, and the national financial system by 2030. Pesapal is regulated by the Central Banks of Kenya, Uganda, Tanzania, Rwanda, and Zambia; it will operate in the latter as Sabipay Technologies.