The UK fintech Unlimit has received a license from the Central Bank of Kenya, two months after the company announced it had acquired a Payment Solution Service Provider (PSSP) license from the Central Bank of Nigeria.
Trevor Goott, Unlimit’s Director for Africa and India, says, “I’m very happy to welcome Kenya as our second African country. We just found out that we were given a license in Nigeria, so this is a great follow-up.”
Unlimit may expand to Tanzania, its third African location. The fintech’s website lists East Africa as a coverage area.
Goott says they entered Kenya because their overseas merchants wanted local operations there. “Also, Kenya is a great place for us to grow our operations in the area because of its strategic location in East Africa,” he said.
Kenya leads the African payment ecosystem after 15 years. Its mobile money revolution is famous worldwide. This new idea has grown Kenya’s economy and made it easier for numerous firms to grow.
Kenya’s mobile payment infrastructure offers local and foreign firms many choices for setting up a company. Unlimit hopes to lead Africa’s payment revolution by expanding to Kenya.
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Unlimit expands again in Africa
Unlimit offers a better payment experience by combining widely recognised payment best practices, industry-leading security procedures, detailed merchant analytics, and an easy-to-use interface.
“We have ambitious plans for Kenya and East Africa,” Unlimit CEO Kirill Evstratov adds. We’ve helped businesses expand into new markets and reach more clients for 14 years. We’re teaching Africa now. “We want to set the standards for excellence and innovation in the payments processing industry,” he stated. “We also want to enable global companies to make cross-border payments.”
Unlimit’s multiple payment options will satisfy Kenyan enterprises.
This achievement shows that Unlimit is committed to making Africa’s financial system better and giving businesses access to cutting-edge payment options.
Goott also said that most international fintech companies in Africa use a local payment provider and use its technology and license, which gives them a competitive edge. Unlimit eliminates middlemen who gain licenses.
“Using a middleman creates two problems: your end-to-end transaction processing now depends on a third party, and using the “middleman” service costs more,” says Goott.
“Unlimint has an advantage over its competitors because it works directly with local payment method providers using its own license .” This way, we keep control of our technology, which improves uptime and transaction conversion rates, and we can offer our merchants the lowest possible running costs, which helps their businesses grow by making them more price-competitive and sensitive.
Rebranding Unlimint to Unlimit
The UK fintech Unlimint became Unlimit recently. The name will represent the company’s new positioning, unify its product portfolio, and underline its objective to abolish financial borders, enabling businesses to operate locally and internationally across Europe, the UK, LatAm, APAC, and Africa, according to a statement.
Payment processing was Unlimit’s primary emphasis in 2009. However, throughout its 14 years of existence, the company has never stopped increasing its capabilities and product offerings, continually introducing new solutions to meet market demand.
The company offers payment processing, banking as a service (BaaS), and an on-ramp fiat solution for crypto, DeFi, and GameFi on one of the world’s largest in-house payment infrastructures.
The company’s new name is a strategic move to unite its products and boost its global brand. The company’s BaaS and Web 3 on- and off-ramp solutions will be renamed Unlimit BaaS and Unlimit Crypto, respectively. A new website and the slogan “borderless payments” will accompany it.
The fintech industry is changing to meet the changing needs of its users. The new website gives a more complete picture of the company’s services by including an interactive map and descriptions of payment methods by area. This will help businesses all over the world decide how to grow.
