Pesapal, a leader in building payments and business tools for Africa, has integrated PesaLink into Openfloat, the firm’s low-cost, consolidated solution to manage expense payments across multiple channels, recipients, and currencies.
The integration of these two innovative solutions will make it easier and faster for businesses to disburse funds. Pesapal CEO Agosta Liko said that by leveraging the PesaLink infrastructure, which is integrated with multiple banks, Pesapal aims to enhance its offering and ultimately join a growing payments ecosystem that supports frictionless business payments and keeps pace with the fast-paced payments landscape.
“As the digitization of payments gains momentum, the integration of PesaLink into Openfloat enables us to enhance the payment experience and democratize merchant payment options. Merchants now have broader payment options,” Liko said.
“We are leveraging the power of collaboration in the payment ecosystem to deliver tailored, scalable products that customers have come to expect while facilitating seamless payment experiences.”
Openfloat is a business solution that digitizes petty cash, payroll, and corporate bill payments. The solution enables businesses, especially Small and Medium Sized Enterprises (SMEs) and large organizations, to disburse funds, pay bills, and buy airtime in bulk – all in one place. In addition, they can now disburse payments via pay bills, tills, mobile numbers, and bank transfers, all from the same account.
Regulated and licenced by the Central Bank of Kenya as a payment service provider, Pesapal processes over 12 million transactions monthly and is on track to connect a million African entrepreneurs to e-commerce, digital payments and the global financial system by 2030.
Merchants using Openfloat enjoy various benefits, which include payouts to bank accounts and mobile money. One can view transaction reports and track their cash flow in real time.
PesaLink is a real-time interbank money transfer platform that allows users to send and receive money from their banks to other banks and mobile money wallets. It provides 24 / 7 real-time payment services for the banking industry in Kenya.