Lemfi, Wapi Pay get CBK license to operate remittance services in Kenya

Source: Capital FM Kenya
Author: Phidel Kizito

NAIROBI, Kenya, April 4 - Cross-border money transfer partners Lemfi and Wapi Pay have received a nod from the Central Bank of Kenya (CBK) to operate remittance services in Kenya.

Lemfi, which operates as RightCard, says that the move underscores its commitment to providing secure and efficient services while complying with the set regulatory framework by CBK.

"It is a significant step in LemFi's promise of seamless international payments to the over 500,000 Kenyans in the diaspora," read a statement by Lemfi in part.

Lemfi rolled out its operations in Kenya in June last year with an eye on the country's growing remittance market.

Its market includes Kenyans living in the United States of America (USA), the United Kingdom (UK), and Canada, among others.

The mobile app allows for foreign transfers directly to one's M-PESA account.