Flutterwave – a modern digital payment infrastructure for Africa.
Tags: alipay, fintechafrica, payment, flutterwave
Published: 2019-09-26 21:49:33


Africa is a 760 billion dollar payments markets, and is fast growing at 70% every year.
 
Businesses in Africa face the problems of unreliability, insecurity, and being disconnected from the global economy. Billions of dollars coming into Africa every year completely disconnected from the global digital payment ecosystem because of  the absence of a trusted platform to process payments from Africa to the world.

<a href="http://flutterwave.com"> Flutterwave</a> was created to put an end to this problem.

Flutterwave has created infrastructure for enabling anyone to pay and get paid seamlessly across Africa. This means any business powered by Flutterwave’s infrastructure can receive payment in whatever form they want, be it card payments, mobile wallets or bank accounts payments. Flutterwave then directly connects to all these payment forms and ensures one seamless payment system so that people can send and receive payments anywhere in Africa.

Flutterwave was founded by Olugbenga Agboola, a financial technology engineer and Iyinoluwa Aboyeji (Co-founder of Andela) in 2016.  The solution they proposed through Flutterwave which was to make payments for products and services easy and seamless across the African Continent got the attention of investors. They secured funding in excess of $10 million by 2017.  The company has since then grown to become one of Africa’s fastest growing financial technology companies.

The overall mission of Flutterwave is to connect Africans to the global economy through world class payments infrastructure.

To achieve this there are two flagship products by Flutterwave. Each designed with the use case in mind:

1)      <a href="http://flutterwave.com/ng/online-payments-products/rave/"> Rave</a>: for businesses.

2)     <a href="http://flutterwave.com/ng/online-payments-products/barter/">Barter</a>: for individuals.
 
Rave is a cost effective service that allows merchants accept global payments via card, mobile wallets  and bank accounts. Companies like Uber, Jumia, Bookings.com already make use of this payment solution.



Barter is a payment platform designed to help manage your finances. Individuals can create a virtual debit card and fund same from their local bank accounts. The virtual card can be used for all forms of online payments. Users can also add their bank account to the platform and get reports that give insights to spending patterns. There is also access to short-term loans on the platform.


Flutterwave is currently being used not only in Africa, but across the globe.

Recently Flutterwave got into partnership with the Alibaba group to integrate  <a href="https://flutterwave.com/ng/blog/product-updates/flutterwave-merchants-now-have-access-to-over-1-billion-potential-customers/"> Alipay on Flutterwave</a>. This strategic partnership will give merchants already using flutterwave access to more than 1 billion Alipay users across the globe. 

With this, it is clear that Flutterwave is well on its way to fulfill its mission of connecting Africans to the global economy.