Global payment services provider PayU has exited the Kenyan market, ending its operations barely a year after receiving regulatory approval from the Central Bank of Kenya (CBK).

CBK confirmed the withdrawal in a statement issued on October 24, 2025, saying it had revoked PayU Kenya Limited’s licence as a payment service provider following the company’s request to voluntarily cease operations. PayU was licensed in March 2023 to operate in the East African country’s fast-growing digital payments space.

The company’s board of directors reached the decision after a strategic review of its global operations, CBK noted. PayU has since completed all legal and regulatory requirements related to its market exit, including the settlement of customer funds.

Headquartered in the Netherlands and owned by Prosus, PayU is one of the world’s leading online payment processors with operations across Africa, Asia, and Latin America. Its withdrawal from Kenya marks a rare retreat by a multinational fintech from one of Africa’s most vibrant mobile money markets.

Kenya’s digital payments industry remains dominated by Safaricom’s M-Pesa, alongside emerging fintech platforms that have intensified competition in recent years. CBK reiterated its commitment to maintaining “the safety, stability, integrity, and efficiency” of the national payment ecosystem.

The exit comes as global fintech firms continue reassessing regional operations in response to changing regulatory and competitive dynamics across African markets.