Pesapal, a digital payment network, has made real-time settlement available to Kenyan merchants, allowing quick money transfers into their accounts.
Merchants utilising the Pesapal platform can get their money faster with the e-wallet Openfloat from Pesapal.
Merchants can gain from the real-time settlement in several ways, including faster access to funds, better control over cash flow, a lower risk of fraud, and enhanced customer satisfaction.
Therefore, the innovation gives businesses—especially large organisations and Small and Medium Sized Enterprises (SMEs)—the flexibility to manage their finances and make time-sensitive payments.
Pesapal CEO and Founder Agosta Liko said this new feature makes funds available to merchants immediately, enabling businesses to streamline their operations and make better financial decisions.
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“We are thrilled to introduce real-time settlement on the Pesapal platform. From now on, our merchants will have quicker access to their funds, ultimately improving the health of their business,” he said.
Merchants using Openfloat enjoy various benefits, including payouts to bank accounts and mobile money. One can view transaction reports and track their cash flow in real time.
Pesapal has a footprint across Kenya, Uganda, Tanzania and Rwanda.
The organisation 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.
