The Bank of Uganda has revoked the license of M\/S Pivot Payments as a Payment Service Provider and a Payment Systems Operator under Section 13 of The National Payment Systems Act, 2020, with immediate effective.<\/p>\n\n\n\n
in a statement issued by the central bank and signed by Deputy Governor of the Central Bank, Michael Atingi-Ego, Pivot Payments has been suspended following a comprehensive investigations by the regulator who discovered irregularities in the company’s operations and breached public trust ..<\/p>\n\n\n\n
\u201cBank of Uganda, through its oversight role, has established that M\/S Pivot Payments Limited is conducting business in a manner that is detrimental to the best interest of the public and endangers the stability of the financial system,\u201d the statement reads in part .<\/p>\n\n\n\n
Bank Of Uganda has now advised Pivot Payment wallet holders (customers) to report to the M\/S Pivot Payments Limited premises located at plot 17 Golf Course Road, Mariba Building, 1st Floor Kololo, Next to Azam TV Office to verify their wallet balances and Know their Customer Information as soon as possible.<\/p>\n\n\n\n
Established in 2019, its payment solution includes Bulk Payments and Bulk collections from Mobile Money, Cards and Bank accounts. Its retail solution is the Pivotpay wallet which has over 250,000 verified users who can save, spend or send money from their wallet in multiple currencies, safely, securely and conveniently.<\/p>\n\n\n\n
The company operates in Uganda, Kenya, Tanzania, Ghana and Nigeria.<\/p>\n\n\n\n
Editor:msserwanga@gmail.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" The Bank of Uganda has revoked the license of M\/S Pivot Payments as a Payment Service Provider and a Payment<\/p>\n","protected":false},"author":1,"featured_media":11624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[379],"tags":[],"class_list":["post-11623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finances"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2024\/03\/R-2.jpg","jetpack-related-posts":[{"id":4391,"url":"https:\/\/prowebinhost.com\/anzu\/mtn-leads-in-mobile-money-transactions-that-have-hit-a-record-of-shs-113-trillion\/","url_meta":{"origin":11623,"position":0},"title":"MTN LEADS IN MOBILE MONEY TRANSACTIONS THAT HAVE HIT A RECORD OF SHS.113 TRILLION","author":"UgandaUpdate","date":"October 26, 2021","format":false,"excerpt":"Telecom giants MTN has led all the way as mobile money transactions\u00a0hit a record Shs113.38 Trillion according to figures released by Bank of Uganda for the Financial Year 2020\/21.The Central Bank Governor Prof. Emmanuel Tumusiime-Mutebile said that in accordance with \u00a0National Payment Systems Act 2020, each of the companies involved\u2026","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/prowebinhost.com\/anzu\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2021\/10\/MTN-Mobile-Money.jpg","width":350,"height":200},"classes":[]},{"id":15720,"url":"https:\/\/prowebinhost.com\/anzu\/ec-releases-payment-guidelines-for-parliamentary-nomination-fees\/","url_meta":{"origin":11623,"position":1},"title":"EC Releases Payment Guidelines For Parliamentary Nomination Fees","author":"UgandaUpdate","date":"October 14, 2025","format":false,"excerpt":"The Electoral Commission (EC) has released payment guidelines for all people aspiring to stand parliamentary elections. 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