Kenyan payments startup Payd is set to resume operations after foreign exchange losses disrupted its ability to settle some customer balances, prompting the company to pause payouts and review how it manages its treasury operations.
The startup is expected to restore access across its app, WhatsApp chatbot, business platform and application programming interface on Friday, September 18, following months of disruption that left some customers unable to complete transfers.
Payd, founded in 2023 by Benaiah Wepundi, provides payment services that allow freelancers, contractors and businesses to receive money from abroad and convert the funds into local currencies. Brandspur Banking News Desk understands that the company’s latest move follows an overhaul of its treasury system after the FX losses affected available funds for some customer balances.
The disruption had generated questions from users, particularly after parts of the service became unavailable and some transfers were reported as failed or delayed. Customers also took to X to seek explanations about the interruption.
Payd has rejected claims that it had shut down, maintaining that the service interruption was linked to the financial and operational difficulties it was addressing.
The planned restart will bring back several of the channels through which customers use the platform, including its mobile application and WhatsApp based service. Businesses using Payd’s platform and developers connected through its API are also expected to regain access.
For freelancers and businesses that depend on digital payment platforms to receive international funds, the interruption highlights the importance of reliable foreign exchange and treasury management in cross border payments. Any prolonged disruption can affect access to money and delay transactions for customers who rely on such services for their operations.
Payd’s return to service will therefore be closely watched by existing customers as the company seeks to restore normal operations following the disruption.
