Kenyan fintech Payd to resume services after FX losses disrupt customer payouts

Payd , a Kenyan payments startup, plans to resume its services on Friday after foreign exchange (FX) losses left it short of the funds needed to meet some customer balances, forcing it to pause payouts around May and overhaul its treasury system. Founded in 2023 by Benaiah Wepundi, Payd enables freelancers, contractors, and businesses to receive international payments and convert them into local currencies. As of February, Payd said it served about 30,000 users across Kenya, Nigeria, South Afric