Flutterwave teams up with Paypal to make it easier for African businesses to accept and make payments

Flutterwave, Africa’s leading payments technology company, today announces a new collaboration with global payment leader PayPal to enable PayPal customers globally to pay African merchants in the continent through Flutterwave’s platform. The collaboration will be instrumental in supporting SMEs and freelancers to overcome the many challenges presented by the highly fragmented and complex payment and banking infrastructure, as well as connecting them with more than 377 million PayPal account holders globally.

Traditionally, Africa’s eCommerce ecosystem has lacked suitable payment solutions to meet demand for seamless transactions worldwide, further constraining its contributions to the global digital economy. However, this collaboration eliminates significant barriers that have previously hindered African consumers and businesses from the untapped potential of cross-border eCommerce.

Flutterwave has transformed the payments space in Africa by offering flexible, quick and affordable payment services to individuals and businesses across the continent. As of today, African businesses have even more access to sell to global customers using PayPal’s secure platform to receive and make payments online. Cross-border eCommerce continues to provide significant growth opportunities for Africa’s economy. Research firm Statista estimates that the total value of eCommerce in Africa generated $16.5 billion in 2017 and is expected to reach $29 billion by 2022. This growth potential will provide many opportunities for SMEs and freelancers worldwide, subsequently increasing Africa’s share of global trade.

This announcement solidifies Flutterwave’s position as the global African payment partner of choice for multinationals looking to enter new markets, further reassuring new and existing merchants and investors of Flutterwave’s global capabilities, secured platform and high standards of safety.

Flutterwave team

 

Olugbenga ‘GB’ Agboola, Founder and Chief Executive Officer of Flutterwave

Flutterwave is a payments technology company that helps businesses all over the world expand their operations in Africa and other emerging markets, through a platform that enables cross-border transactions via one API. Flutterwave has processed over 140M transactions worth over USD $9B to date and serves more than 290,000 businesses including customers like Uber, Flywire, Booking.com, etc. The Company’s key advantage is international payment processing in 150 currencies and multiple payment modes including local and international cards, mobile wallets, bank transfers, Barter by Flutterwave etc. Flutterwave has an infrastructure reach in over 33 African countries, including Nigeria, Uganda, Kenya, and South Africa. For more information on Flutterwave’s journey, please visit: www.flutterwave.com