Cross Switch Enters Kenyan Fintech Scene with Pesawise to Boost SME Payments
Fintech startup Cross Switch officially launched in Kenya on May 15, partnering with local payments firm Pesawise to offer a unified payment platform. This solution enables businesses to accept cards (Visa, Mastercard, Amex), bank transfers, and mobile money, aiming to significantly boost financial inclusion for SMEs, charities, and NGOs by simplifying online payment collection and reducing transaction costs.
The dynamic Kenyan financial technology (fintech) sector welcomed an innovative new entrant on May 15 with the official launch of Cross Switch, a startup focused on delivering enhanced digital payment solutions tailored for the diverse needs of businesses. Cross Switch strategically marked its entry into the highly competitive Kenyan market by forging a significant partnership with Pesawise, an established and respected local payments firm. This synergistic collaboration is designed to combine Cross Switch's advanced payment processing technology and international expertise with Pesawise's deep understanding of the local market dynamics and extensive existing network of merchants and users.
The central offering born from this partnership is a sophisticated, all-in-one unified payment platform. This comprehensive system will empower Kenyan businesses, irrespective of their size, to seamlessly and securely accept a broad spectrum of payment methods. These include major international credit and debit cards such as Visa, Mastercard, and American Express, alongside direct bank transfers and the pervasively popular mobile money services like M-Pesa, all managed through a single, user-friendly integrated interface. The launch is being positioned as a major catalyst for enhancing financial inclusion across the country. The CEO of Pesawise passionately emphasized this aspect, stating that Cross Switch’s cutting-edge technological capabilities will make it substantially easier, more efficient, and more secure for Small and Medium-sized Enterprises (SMEs), charitable organizations, and Non-Governmental Organizations (NGOs) to collect payments online. This, in turn, is expected to significantly expand their operational reach, streamline their financial processes, and improve their overall efficiency. Furthermore, the two companies have jointly announced ambitious plans to leverage their platform to facilitate smoother and more transparent charity donations and to actively work towards lowering overall transaction costs within the Kenyan market, thereby making digital payments more accessible, affordable, and beneficial for a wider array of users and organizations nationwide.