Category: Payments
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3 Hacks to use when applying for a Payment Service Provider (PSP) Licence in Kenya
Building a business in the payments space in Kenya is quite an uphill task. From the numerous and relentless requirements from the Central Bank of Kenya to figuring out how to incorporate the proper structures for your business. At other times, entrepreneurs are stuck at getting evidence of having KES 5,000,000 or…
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What is a Trust and why is it Important?
What do you think about when you hear the word ‘Trust’? Maybe you think about a relationship you once had that ended badly or if you are cheeky enough, a type of male contraceptive. However, the word Trust also has a legal definition which means a legal entity created by…
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How to get a Payment Service Provider (PSP) licence in Kenya
Recently Paystack received authorization to act as a Payment Service Provider (PSP.) What does this mean? It effectively gives Paystack access to the National Payment System and allows it to process payments of all kinds in Kenya. What do you need to do to get the PSP License? 1. You…