Flutterwave- An Online Payment Gateway That Has Captured The Fintech Industry
Published: 2019-09-27 13:39:44

FLUTTERWAVE - AN ONLINE PAYMENT GATEWAY THAT HAS CAPTURED THE FINTECH INDUSTRY

Brief History of Flutterwave
Flutterwave was founded by Olugbenga Agboola, a financial technology Engineer and Iyinoluwa Aboyeji, an Entrepreneur and Co-founder of Andela in 2016. Iyinoluwa Aboyeji approached investors in the United States in 2017 for funding of the startup in Lagos, Nigeria. Investors quickly sensed the solution he was offering to the financial sector of Africa that is, a technology that simplifies payment across platforms; making it easy and seamless to pay for products and services with local currencies across the African continent. 
This brought about a great funding for the company in 2017, making it one of  the fastest growing technology companies in Africa in 2018.
Iyinoluwa Aboyeji, a co-founder of Flutterwave believes the well-being of humanity will not be determined by advances in space technology but by the positive impact technology has on the life of mankind as a specie.Therefore he and Olugbenga who is very passionate about technology made every effort to bring this great solution(Flutterwave) to reality for the benefit of mankind. 


What is Flutterwave? 
Flutterwave is an online payment technology company that aims at solving all kinds of payment problems locally and internationally. It focuses on helping individuals, banks and businesses have a fast, safe and easy online payment processes. The world of today rotates around technology, so Flutterwave is a technology gateway for online transactions.

Businesses today(especially Nigerian businesses where the dirge of infrastructure has made the country a tough place to do businesses) face an ever-growing problem of adapting to unique marketspace where, while there is little money in circulation, it is also difficult to connect buyers with sellers.  

In comes Flutterwave… 
Flutterwave introduces two products; Rave, Flutterwave for Businesses and Barter, Flutterwave for Customers to bridge the gap in transaction through its ease of cashless transaction solutions today.  Thereby ensuring efficient online transfer of money for both buyer and seller who can now conduct business conveniently. 
              Fig 1: Things Rave Do

              Fig 2: Barter Interface

The Problem Flutterwave is Solving
With the help of flutterwave, businesses or individuals can:
Receive money and make payments comfortably from any source either by mobile banking,card e.t.c
Continuously engage customers online.

Products and Services Offered
Talk about usability and functionality. Rave and Barter which are the two products offered are both very easy to use and functions well. Flutterwave personnels in their quest to solve e-payment problems and better lives has made the platform very safe and easy to use. It can be used to Pay bills, send money, make international merchant payments and even buy tickets. This has been confirmed by several people who have used Flutterwave for their payment interactions and this has made it the Best Payment Gateway in Africa. Flutterwave not only have access to African countries but also the US, UK and China for payment processes. They also have connections to Shopify, Quickbook, Sage, Xero, Squarespace and Zoho.

Market Share for Flutterwave
Flutterwave market share has span to over 1 billion users across the globe. Their main objective is to provide complete payment solution for Africans to thrive in the global economy. This would be done by interconnectivity within Africa and the world at large.
Flutterwave, currently has connected these African countries to each other such as Uganda, Kenya, Nigeria, South Africa, Rwanda, Ghana.  It is in the process of connecting Africa to the world.
Flutterwave is also integrated with Alipay so this gives all her merchants to over 1bilion Alipay users. The Alipay is available in addition to card, Barter, Mobile Money and other payment channels on the Rave checkout model.

Achievements
With it's products, Flutterwave has been able to;
1.Successfully process over a hundred million transactions
2.Partnered with 50 African Banks
3.Received the award for "Best Payments Company in Africa
4.Successfully integrate and collaborate with top companies worldwide to make payments international. 
5.Gained the recognition of international bodies and countries. 

The Future of Financial Technology in Nigeria
Nigeria's FinTech Industry that hardly experienced any growth is now experiencing a speedy growth with solutions to Online payments technology provided by Flutterwave. 

Closing Remarks
Bagging the certifications of ISO 27001(Information security management) and ISO 22301(Business continuity) have given Flutterwave a global recognition and business sustainability platform. 

ISO 27001 is awarded to organisations that prove that they have systems in place to maintain, establish and continually improve their information security management system within the organisation. 

ISO 22301 certifications are awarded to businesses that have passed the requirements to show that they are capable of planning and establishing a business management system within the context of their industry.
These certifications mean Flutterwave will be able to leverage on their security and business management standards to continue to innovate on payments solution.