CBK Approves Launch of TandaPay Mobile Money Wallet

Tanda, a Kenyan financial technology company, today announced it has received an eMoney Issuer License from the Central Bank of Kenya (CBK). The license enables the launch of TandaPay, a next-generation mobile wallet designed to drive financial inclusion across East Africa.

This marks a significant milestone for Tanda, making it the sixth entity in the country to receive this particular license. The company believes this positions it as a key player in Kenya’s fintech landscape, driving change in the digital financial services sector.

Key Benefits of TandaPay:

• Consumers: TandaPay is interoperable, allowing users of any mobile money network to make free payments through the TandaPay Till using *712#.
• Businesses: Merchants receive a free TandaPay Till to accept payments from any mobile money network via *712#. The TandaPay app and online dashboard simplify collections and payouts.
• Developers: TandaPay offers an adaptable payment gateway, with on-demand APIs and payment links for seamless integration. Developers can accept and make payments through mobile money, banks, and international card schemes.

“This license signifies a major step toward unlocking economic opportunities in Kenya through mobile wallets,” said Geoffrey Mulei, Co-founder and CEO of TandaPay. “TandaPay is Kenya’s first truly interoperable mobile payment system, giving users a single wallet for all transactions regardless of their bank, SACCO, or fintech. We are creating a truly inclusive financial ecosystem for all Kenyans.”

Tanda aims to expand its ecosystem by partnering with merchants, SACCOs, Fintechs, and others. The company’s goal is to reach 500,000 wallets in the first year of operation, empowering over 10 million customers long-term.

Tanda says it is committed to providing universal access to money and essential digital and financial services. Since its founding, it has built an ecosystem serving over 40,000 businesses, 2,000,000+ people, and 150+ developers. Now operating under CBK regulation, Tanda is shaping the future of finance with its innovative and inclusive solutions.