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Cellulant’s Payments Operations Licensed By The Bank Of Uganda

News

Nov. 9, 2022, 2:52 p.m.

Pan-African payment technology company Cellulant has been granted a Payments Systems Operator license by the National Bank of Uganda in line with the National Payments System Act, 2020. The Act guides streamlining operators in the burgeoning fintech space in Uganda.

Cellulant Group, founded in 2003, has a history of delivering inventive technical and financial solutions implemented with a seamless user experience. The company today powers collections and payouts for thousands of businesses in various sectors across 35 countries in Africa.

Cellulant launched operations in Uganda in 2009. Through its single API payments gateway - Tingg - it enables global, regional, and local businesses to collect payments online and offline serving its customers with locally relevant payment methods, including mobile money, cards & banks.

By obtaining this license, Cellulant can develop its operations locally and regionally while reassuring its business partners that Cellulant complies with local and international security regulations. Having partnered with six financial institutions and over 50 merchants within Uganda, Cellulant is availing proximity mobile banking and checkout solutions to its merchants across the country.

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According to Frances Diribe, Cellulant's Chief Risk & Compliance Officer, "We welcome this development and are delighted that the Bank of Uganda has now licensed Cellulant Uganda as a Payment Systems Operator (large funds transfer). Uganda currently has over 800,000 registered businesses and a fast-growing digital youthful population. We're on course to double down our work in offering these businesses and their clients' dependable payment options. They can concentrate on growing themselves by streamlining the business payment process."

Cellulant boasts an 80 percent market share in providing payment solutions for all airlines in Africa, including Emirates, Kenya Airways, Jambojet, and Ethiopian Airlines. They also offer solutions for the likes of Rubis, Oryx, Jumia, Kiku, MultiChoice, StarTimes, Zuku, National Water, and Umeme, among others. The company facilitates more than 300 million transactions per year with volumes in billions of dollars.

The Pan-African Payments pioneer recently announced its partnership with the global technology company, Mastercard, to empower millions of consumers across Africa to join the global digital commerce market through their virtual payment solution. Cellulant also recently partnered with LC Waikiki in Zambia & Orange Money in Botswana.

tag: Bank of Uganda, Cellulant, Uganda,

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