E-payments firm Pesapal has added OpenFloat e-wallet, a new feature to its Paypal platform, to enable Kenyan merchants to receive payments instantly.
In addition, it will enable small and medium enterprises (SMEs) to streamline their operations and make better financial decisions.
“The development, therefore, empowers businesses, especially small and medium-sized enterprises (SMEs) and large organizations, with the flexibility to manage their money and make time-sensitive payments,” Pesapal CEO and Founder Agosta Liko said.
Merchants will be able to make payouts to bank accounts and mobile money. They can also view transaction reports and track their cash flow in real time.
Pesapal has a footprint across Kenya, Uganda, Tanzania and Rwanda.
The organization 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.