Fintech firm, ioTec Limited issued two licenses by the Central Bank of Uganda to operate and provide payment systems

ioTec Limited, a Ugandan-owned financial technology company and software consultancy firm, has been issued two licenses by the Central Bank of Uganda to operate and provide payment services under the National Payments Act, 2020. The two licenses are Payment Service Provider (Small Electronic Money Issuer) and Payment Systems Operator (Small Funds Transfer). The ioTec Platform is a business-to-business technology that includes services for customer onboarding, KYC verification (individual & business), digital payments, and credit referencing. The ioTec Platform aims to strengthen service linkages between financial service providers, manufacturers, as well as small and medium-sized businesses. The ioTec Platform empowers several…