Cellulant licensed by Uganda’s apex bank

In accordance with the National Payments System Act, 2020, the National Bank of Uganda has granted Cellulant, a pan-African provider of payment technology, a licence as a Payments Systems Operator. The Act directs companies that streamline operations in Uganda’s developing FinTech industry.

The 2003-founded Cellulant Group has a track record of providing creative technical and financial solutions that are delivered with an excellent user experience. In 35 African countries, the organisation currently manages payments and collections for thousands of enterprises operating in diverse industries.

Cellulant began operating in Uganda in 2009, and through its single API payments gateway, Tingg, it enables local, regional, and international companies to accept payments online and offline while providing their clients with payment options that are appropriate to their local environments, such as mobile money, credit cards, and banks.

Cellulant can expand its activities locally and regionally and assure its business partners that it conforms with local and global security standards by obtaining this licence. Cellulant offers proximity mobile banking and checkout solutions to its merchants all around Uganda thanks to partnerships with 6 financial institutions and more than 50 businesses.

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. By streamlining the business payment process, they can concentrate on growing themselves.”

All African airlines, including Emirates, Kenya Airways, Jambojet, and Ethiopian Airlines, rely on Cellulant, which has an 80% market share, for payment solutions. In addition, they provide solutions for a number of other companies, including Rubis, Oryx, Jumia, Kiku, MultiChoice, StarTimes, Zuku, National Water, and Umeme. More than 300 million transactions worth billions of dollars are facilitated by the company annually.

Recently, Cellulant announced a partnership with Mastercard, a leading worldwide technology corporation, to enable millions of users in Africa to use their virtual payment solution to participate in the growing global digital commerce sector. Recently, Orange Money and LC Waikiki in Zambia and Botswana teamed with Cellulant. The company hopes to advance its goal of opening up opportunities and accelerating economic growth for all of Africa with this accreditation in the Pearl of Africa.

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