A customer ready to buy but unable to pay through an accepted channel can mean a lost sale for a business. That hurdle could soon become easier to overcome for Malawian traders and entrepreneurs.
The Reserve Bank of Malawi (RBM) has granted local fintech company PayChangu Limited a Payment Service Provider licence, allowing it to operate payment aggregation services across the country.
Issued on 30 September 2026 under the Payment Systems Act, 2016, licence number PSP-003/26 allows PayChangu to bring mobile money, card payments and bank transfers onto one platform.
For market traders, shop owners and online sellers, the service could make it easier to accept payments from customers who use different channels, reducing the risk of losing sales because of payment limitations.
PayChangu Chief Operating Officer Joshua Mwendo said the licence gives the company an opportunity to help build a secure and inclusive financial system that responds to the needs of Malawian businesses.
He said the company wants to ensure that no business loses a sale simply because receiving payment is difficult, whether it is a small online seller, a hotel hosting foreign visitors or a large company serving thousands of customers.
Small and medium enterprises are expected to benefit from reduced difficulties in managing different payment methods, potentially helping them reach more customers and compete in formal and online markets.
Larger businesses could also experience smoother revenue collection and offer customers a more convenient way to pay for goods and services.
Mwendo praised RBM for creating room for local companies to contribute to national development, pledging that PayChangu would uphold compliance and integrity as it rolls out its services.