PawaPay, a leading pan-African payments aggregator, has obtained a Payment Service Provider (PSP) licence from the Bank of Mozambique through its local subsidiary, Quidexplus Mozambique. This licence makes PawaPay one of the first companies to operate as a PSP in Mozambique, providing a regulated route for merchants to access the country's active mobile money market. The licence allows PawaPay to onboard merchants directly and offer regulated payment services across Mozambique.
Mozambique's mobile money market has experienced significant growth, with over 12 million active accounts across three major operators: M-Pesa (Vodacom), E-Mola (Movitel), and mKesh (Tmcel). Despite this growth, limited licensed payment infrastructure has hindered merchants' ability to operate at scale in the market. PawaPay's licence addresses this challenge, enabling the company to provide a reliable and regulated solution for merchants.
Ilídio Matchebe, Mozambique Country Director at PawaPay, highlighted the significance of the licence, stating that it will allow the company to onboard merchants directly and connect them to the operators their customers already use. This development is expected to have a positive impact on the market, providing merchants with a secure and efficient way to operate in Mozambique.
PawaPay's licence in Mozambique complements its existing regulated presence across 23 African markets, where the company processes around 7 million transactions daily. The company's services support various sectors, including ride-hailing, remittance, retail, and NGOs. With its licence, PawaPay is poised to expand its operations in Mozambique and enhance its offerings to merchants and customers.
The licence enables PawaPay to commence commercial operations immediately, with merchant onboarding expected to begin in the coming days. The company is also in advanced discussions with M-Pesa, E-Mola, and international remittance providers to expand inbound payment flows into Mozambique. This development is expected to further enhance the country's mobile money market and provide new opportunities for merchants and customers.
PawaPay's services are designed to help global and local businesses operate across African mobile money through a single API. The company connects merchants to mobile money wallets across 23 African markets, working directly with banks and mobile network operators to support collections, settlement, FX, and reconciliation. Founded in 2020, PawaPay has successfully processed over 3.5 billion transactions.
With its licence in Mozambique, PawaPay is well-positioned to support the growth of the country's mobile money market. The company's expertise and experience in providing payment services across Africa will be invaluable in helping merchants and customers navigate the market. As PawaPay continues to expand its operations, it is likely to play a significant role in shaping the future of mobile money in Mozambique.
Key points
- PawaPay becomes one of the first licensed PSPs in Mozambique, enabling direct merchant onboarding in the country's growing mobile money market.
- The licence allows PawaPay to onboard merchants directly and provide regulated payment services across Mozambique.
- PawaPay processes around 7 million transactions daily across 23 African markets, supporting various sectors including ride-hailing, remittance, retail, and NGOs.
