Kenyan venture sees collaboration with Pesawise for Cross Switch's regional expansion
Cross Switch, a renowned provider of scalable payment solutions, has partnered with Pesawise, a locally licensed and trusted payment provider in Kenya, to launch innovative digital payment solutions in the East African market. This collaboration aims to simplify electronic payment processing, cut costs, and speed up settlements, particularly in the retail sector [1][2][4].
The partnership leverages Pesawise’s strong regulatory compliance and local expertise, enabling Cross Switch to establish a robust footing in Kenya’s retail and financial sectors. By facilitating more merchants with Point-of-Sale (POS) and digital payment acceptance, the collaboration seeks to digitize traditionally cash-based transactions within Kenyan commerce [1][2].
In terms of social impact, this alliance promotes financial inclusion and supports business growth by providing tools that empower Small and Medium Enterprises (SMEs) and merchants with modern payment technologies. By enhancing ease of payment and expanding digital transaction access, it contributes to economic resilience and increased participation in the formal digital economy [1][2][4].
Tim Davis, CEO of Cross Switch, expressed a shared common set of values with Pesawise, emphasizing a mission to democratize technology and drive social impact. Both companies aim to support social impact efforts across the African continent through this collaboration [2][3].
The sectors of focus for this collaboration include e-commerce, hospitality, cryptocurrency (in approved markets), and delivery services. Cross Switch, with an established presence across Africa and Latin America, aims to become a go-to payment solution provider for businesses of all sizes in Kenya, backed by strong fraud prevention, risk management, and reconciliation tools [3].
Cross Switch has officially launched operations in Kenya through this partnership with Pesawise. The collaboration between the two companies is about more than technology; both share a mission to democratize digital finance. The partnership has already supported local merchants such as Glovo Kenya [3].
Jamal Khan, CEO of Pesawise, stated that the goal of the partnership is to strengthen the digital payments ecosystem in Kenya. The launch strengthens Cross Switch's footprint in Africa, providing direct access to Kenya's growing digital payments market [4].
References:
[1] Cross Switch. (n.d.). Cross Switch partners with Pesawise to expand digital payments in Kenya. Retrieved from https://www.cross-switch.com/news/cross-switch-partners-with-pesawise-to-expand-digital-payments-in-kenya
[2] Finextra. (2022, March 16). Cross Switch and Pesawise partner to expand digital payments in Kenya. Retrieved from https://www.finextra.com/pressarticle/88427/cross-switch-and-pesawise-partner-to-expand-digital-payments-in-kenya
[3] TechCrunch. (2022, March 16). Cross Switch and Pesawise partner to expand digital payments in Kenya. Retrieved from https://techcrunch.com/2022/03/16/cross-switch-and-pesawise-partner-to-expand-digital-payments-in-kenya/
[4] Business Daily Africa. (2022, March 16). Cross Switch, Pesawise partner to boost digital payments in Kenya. Retrieved from https://www.businessdailyafrica.com/corporate/Cross-Switch-Pesawise-partner-to-boost-digital-payments-in-Kenya/1324492-5345746-15t7qwz/index.html
The collaboration between Cross Switch and Pesawise introduces innovative technology into Kenya's business sector, specifically aiming to digitize traditional transactions and promote financial inclusion within Kenyan commerce. By providing modern payment solutions, this digital partnership seeks to support the growth of Small and Medium Enterprises (SMEs) and merchants, ultimately contributing to the resilience of the East African economy.
