Africa’s Emerging Payment Platform: Flutterwave
Flutterwave is a fintech startup founded by Andela Co-founder, Iyinoluwa Aboyeji.
Flutterwave is an API that lets you process credit card and local alternative payments, like mobile money and Automated Clearing House (ACH) across Africa. It is also a payment API that makes it easier for banks and businesses to process payments across Africa. The service allows consumers to pay for things in their local currency. Flutterwave takes care of integrating banks and payment-service providers into its platform so businesses don’t have to take on the expense and burden.
The payments problem in Africa is enormous. Financial Inclusion, infrastructure development, e-payments adoption due to security, low literacy levels & merchant acceptance are a few, and so we’re excited to have Flutterwave join the group of companies working hard to solve these problems. There is no doubt that Flutterwave as a startup wants to make it big in Africa and has set its inroads in some African countries already. Flutterwave hopes to process payments to & from Africa with one API.
The online system aims to provide a safe infrastructure, allowing for easier and quicker card payments and bank transfers across the continent. Whereas before it was difficult to transfer money between African countries, Flutterwave acts as a gateway to manage risk and processing difficulties between the consumer and the beneficiary.
The digital platform also improves the way money from international sources is transferred, enabling money to reach Africa more swiftly and in the client’s local currency.
Starting with a great team of proven entrepreneurs, Flutterwave has built a strong product that’s already processed in less than 2 years of operations.
Flutterwave fills a critical gap in the digital payments ecosystem in Africa. The company has the potential to significantly accelerate the growth of digital finance in Africa by making it more useful to the everyday consumer.
