Electronic payment firm Pesapal has launched and rolled out a new software called Openfloat in Kenya. The software is a consolidated solution that allows businesses and individuals to manage expense payments across multiple channels, recipients, and currencies.
Openfloat offers faster settlement to Pesapal merchants. For most of its users, this is the first time they can access a single-digit account to manage salaries, supplier payments, travel expenses, and other bills.

With Openfloat, Pesapal merchants can electronically disburse payments via pay bills, tills, mobile numbers, and bank transfers, all from the same account.
“Paper-based expense processes are a minefield for errors and fraud. With Openfloat, businesses can track their spending 24/7 and remotely if they want to. Our design ethos on this, and all our products, is simplicity, accessibility, and affordability,” said Pesapal CEO Agosta Liko.
Openfloat’s capacity for real-time visibility has proved popular with its automatic driving for greater productivity among managers and staff.

This solution’s rollout followed extensive market testing with Kenyan retail, hospitality, and transport merchants. Tests indicated that these businesses could have half the time taken monthly to process their expense payments. Openfloat’s capacity for real-time visibility and cash flow control also proved popular.
Pesapal has identified that failure to automate is a massive brake on productivity in Africa. The Organisation for Economic Co-operation and Development (OECD) has acknowledged that low productivity reduces inclusiveness.
“Labour productivity levels in emerging and developing countries continue to be well below those in advanced countries,” Pesapal CEO Agosta Liko explained.

“We don’t see why any business in Africa should be excluded from improving productivity through better decision-making and automation. We believe Openfloat is a game-changer for African businesses and are excited to include it in our suite of business tools,” Mr Liko added.
Founded in 2009, Pesapal is a leading payment services company with local know-how in building payment and business tools for Africa. Pesapal is used in 5 African countries and aims to connect a million African entrepreneurs and customers to e-commerce, digital payments and the global financial system by 2030.
Article by Lydia Achieng’
Email: lydiaachieng@upeohubdigital.co.ke
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