Flutterwave: Bridging the Gap between Africa’s and Global Digital Economy
African countries are not adequately represented in the Global Digital Economy. Cards payments penetration of Visa and MasterCard collectively stood at less than 2% in Africa. So flutterwave aims to revolutionize digital payment systems in Africa by providing a simple, easy to use and secure digital payment infrastructure for customers, merchants, businesses, and banks. It wants to provide Africans with varying payment methods, via any channel and from anywhere in the world.
Flutterwave is an integrated digital payments platform founded in 2016 by Andela co-founder Iyin Aboyeji, Olubenga Agboola, Jay Chikezie, Adetayo Bamiduro together with a team of ex-bankers, engineers and entrepreneurs. Flutterwave investors include Mastercard, CRE Ventures, Fintech Collective, 4DX Ventures, and Raba Capital, Green Visor Capital and Greycroft Partners among others. It’s headquartered in San Francisco with offices in Lagos, Johannesburg, Nairobi, and Ghana. With a PCI DSS level, 1 certification flutterwave was able to achieve a lot, all within a short period of time, over $2.5 B in the payments process, over100 M transactions processed with over fifty bank partners in Africa, 1200+ developers build on flutterwave. The company has operations and partners in almost all African countries, in the United States of America, India, and some European countries too.
Flutterwave provides its services through modern payments products: Rave is a flutterwave service that allows merchants to accept Global payments using cards, bank accounts, and USSD. Rave is easy to use and flutterwave charges no set up fees. A little technical know-how is needed to use rave, plugins for integration in merchants' websites are also provided by flutterwave. Instant payments to the merchant Bank account is also supported. To set-up visit https://ravepay.co.
Another great product by flutterwave is Barter App which allows users to spend, sent or receive money anywhere in the world. Barter App can be downloaded and sign up free on the App Store or play store. With Barter, you can add your bank account and manages your funds and subscriptions easily.
Flutterwave has one of the lowest pricing in the industry, for collections, local payments and international card payments a 3.5% is charged, for payouts, a maximum of $5 is charged. Some charges have been waived by the company such as setup and integrations fees, customization request fees and monthly access fees. Flutterwave is a successful and trusted company already, some of its great partners include Uber, Booking.com, transferwise, flywire, access bank, FirstBank, GTBank, UBA, Kiki Kamanu, Oja Express and many more. With flutterwave digital payment in Africa is in safe hands.
