The Central Bank of Kenya has revoked PayU Kenya Limited’s authorisation as a licensed payment service provider after the firm applied to voluntarily cease business operations in Kenya. PayU had been licensed as a payment service provider on 23 March 2023. The cessation decision was taken by the company’s board following a review of its strategic plan, and CBK noted that PayU met the legal and regulatory requirements for exiting the market, including paying funds owed to customers. CBK notified the public that PayU will no longer conduct payment service provider business in Kenya, citing Section 15 of the National Payment System Act, 2011 and Regulation 10 of the National Payment System Regulations, 2014.
Central Bank of Kenya 2025-10-24
Central Bank of Kenya revokes PayU Kenya Limited payment service provider authorisation following voluntary cessation of operations
The Central Bank of Kenya revoked PayU Kenya Limited's authorization as a licensed payment service provider after the firm's voluntary decision to cease operations. PayU, licensed since March 2023, met all legal and regulatory exit requirements, including settling customer obligations. The revocation is in accordance with Section 15 of the National Payment System Act, 2011, and Regulation 10 of the National Payment System Regulations, 2014.