10 November 2021

Nairobi-based payment services provider Mobile Pay stands accused of failing to comply with national payment service and system policies and regulations and has had its licence revoked.

The Central Bank of Kenya (CBK) said Mobile Pay (which operates the Tangaza telecommunications brand) failed to submit audited annual financial accounts of its business as well as that of the Trust Fund (Tangaza Trust), quarterly reports and an annual systems security audit report.