Money Transfer International LTD is proud to announce that it has secured a Small Payment Institution (SPI) license to operate in the United Kingdom. This significant milestone will enable MTI to offer payment services through its flagship product, TUMA, specifically targeting the Kenyan diaspora. TUMA is a lifestyle product designed to allow Kenyans in the UK to make payments back to their home country with the same efficiency and speed as if they were locally present in Kenya.

With this license, TUMA aims to revolutionize the remittance experience for Kenyans abroad. The platform ensures that users can transfer money swiftly, securely, and cost-effectively, bridging the gap between the UK and Kenya. This service is particularly crucial for the Kenyan diaspora, who often face challenges with high transfer costs, unfavorable exchange rates, and logistical hurdles when sending money home

Money Transfer International LTD is listed in the Companies House and regulated by the Financial Conduct Authority (FCA). The company has cultivated a close relationship with these regulators to ensure that all operations meet stringent regulatory standards. This commitment to compliance and transparency is designed to secure the trust and confidence of TUMA's customers, reinforcing the company’s dedication to providing safe and reliable financial services.

TUMA’s central office is conveniently located at 107 - 111 Fleet Street, London, United Kingdom, EC4A 2AB. This prime location not only positions TUMA at the heart of the UK’s financial hub but also makes it easily accessible to its customers and partners.

Michael Macharia, the Director of MTI, expressed his enthusiasm about this development: “It’s vital that Kenyans in the diaspora have a safe, secure, and speedy way of sending money home. With many African remittance providers struggling to facilitate fast and cost-effective remittances due to high costs, FX conversion challenges, and logistical hurdles, TUMA is very excited to get the green light from the FCA to fill this gap.”

The SPI license marks a new chapter for TUMA, enabling it to provide unparalleled remittance services to the Kenyan community in the UK. By leveraging advanced technology and maintaining a strong regulatory framework, TUMA is set to become the go-to platform for cross-border payments, ensuring that Kenyans abroad can support their families and invest in their homeland with confidence.