Pegasus Technologies
“Can a Uganda-based payment aggregator become the dominant neutral payment infrastructure layer for East African financial institutions, telecoms, and enterprises?”
Founded2007
HQKampala, Uganda
IndustryInfrastructure / Payments
The story
Founded in 2007 as a financial and billing solutions provider in Uganda, Pegasus Technologies evolved from bespoke software for banks and utilities into a multi-service payment infrastructure company. Its flagship PegPay platform now aggregates mobile money, card payments, USSD, and bulk disbursements, processing over UGX 1.3 trillion annually. Formalized as a licensed Payment Service Operator by the Bank of Uganda in 2021, Pegasus has positioned itself as the central payment rails layer for Ugandan financial institutions, government agencies, NGOs, and over 2,000 schools.
Product timeline
2007
Incorporated in Uganda as a financial and billing solutions provider.· pivot
2007
Developed PegPay Payments platform, an aggregation and transaction management system for banks, telecoms, and utilities.· banking
2021
Licensed by the Bank of Uganda as a Payment Service Operator (Large Funds Transfer & Third-Party Systems) under the National Payments Act 2020 and National Payments Regulation 2021, License No. PSO 06/21.· banking
2023
Launched USSD aggregation service on shortcode *272# enabling mobile banking, utility payments, mobile money collections and payouts.· banking
2025
Published blog on the future of digital payments in Uganda, highlighting role in Anti-Fraud Consortium (AFC) and interoperability.· pivot
Regulated entities
1
regulatory licence held by Pegasus Technologies
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Pegasus Technologies’s embedded-finance stack
Payments / PSP
PegPay (self-operated)
Accounting gap: minor