CBK Statement on Revocation of PayU Payment Service License in Kenya

The Central Bank of Kenya (CBK) has revoked the authorisation of PayU Kenya Limited (PayU) as a licensed Payment Service Provider (PSP). This is after PayU made an official application to voluntarily cease business operations in Kenya. PayU was licensed by CBK to operate as a PSP on March 23, 2023.

The decision to cease operations in Kenya was made by the PayU Board of Directors, pursuant to an informed consideration and review of its strategic-plan as a business enterprise going forward. Consequently, PayU has adhered to all the legal and regulatory requirements related to the cessation of business operations, including the payment of funds owed to customers of PayU.

Following the exit of PayU from Kenya and pursuant to Section 15 of the National Payment System Act, 2011, and Regulation 10 of the National Payment System Regulations, 2014, the public is hereby notified that PayU will no longer conduct the business of a payment service provider in Kenya.