Virtual Pay International has announced that it has been granted authorization by the Central Bank of Kenya (CBK) to operate 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.
The CBK license allows Virtual Pay to offer its payment processing services to merchants, local and international. Our objective is to play a pivotal role in the growth of the financial sector, contributing to the growth of the economy at large.
“As is our practice, we purpose to collaborate with all sector players in the market, namely, banks, non-bank financial institutions, major card schemes etc., to ensure that we are able to scale our operations for the benefit of all stakeholders”, says David Morema, the Virtual Pay Group CEO.
“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.”
Locally owned and established in 2019, Virtual Pay Group is a pan-African, omni-channel Payment Service provider with a wide footprint across Africa, the Indian Ocean, and Dubai. We are regulated in several jurisdictions, a testimony of our adherence to local and international regulations. We are also certified to international Global Best Practice Standards like the Payment Industry Data Security Standard, (PCIDSS) and ISO 27001:2013 Information Security Management System (ISMS). It suite of services include: E-commerce Card Processing; Mobile Money Payment Aggregation; In-Store Payment Processing; and Educational Institutions ERP and Payment Solutions (VDATO).
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