Connecting the dots in payments...’s Post

Flutterwave, a leading global pay-tech firm, has expanded its operations into Uganda, furthering its mission to support financial inclusion across Africa. The Bank of Uganda has granted Flutterwave a Payments System Operator (PSO) license, enabling the company to extend its services to 29 African countries. This milestone represents a significant step for Flutterwave as it aims to enhance digital payment solutions across the continent. Olugbenga Agboola, Founder and CEO of Flutterwave, emphasized the importance of this expansion, stating that the license will help connect Africa’s people, businesses, and economies through seamless technology. With this new license, Ugandan businesses will gain access to Flutterwave's comprehensive payment solutions, including the ability to process single and bulk payments to suppliers, employees, and partners. The expansion into Uganda is strategically timed as the country’s digital economy is rapidly growing, driven by increased internet penetration and high mobile money adoption rates. Uganda’s digital ecosystem, supported by a population of 47 million and a 10.3% growth rate, presents significant opportunities for both businesses and consumers. Flutterwave's entry into Uganda underscores its commitment to advancing Africa’s digital payment infrastructure, positioning itself to make a substantial impact on the country’s vibrant and expanding digital economy. #Flutterwave #DigitalPayments #FinancialInclusion #AfricaTech #PaymentsSystem #Uganda #DigitalEconomy #MobileMoney #Expansion #PayTech To read more: https://zurl.co/ZLei

💥 Flutterwave has been awarded an Enhanced Category Payment Service Provider license by the Bank of Ghana. This significant development allows the company to expand its operations in Ghana 🇬🇭, a market known for its tech-savvy population and high mobile internet penetration. 🌟 With this new license, Flutterwave will offer a range of advanced payment solutions, including secure money transfers, automated invoicing, and versatile checkout options. The company aims to streamline payment processes for businesses and consumers while supporting the growth of Ghana’s digital economy. 💬 Founder and CEO Olugbenga Agboola highlights Flutterwave’s commitment to enhancing Africa’s payment infrastructure and fostering economic growth in Ghana. The company is eager to introduce innovative solutions tailored to the Ghanaian market and continue transforming digital payments across Africa. Read more: https://lnkd.in/ebzZHmhT #Africa #Ghana #Fintech #Flutterwave #DigitalPayments #Expansion #Growth

𝗙𝗹𝘂𝘁𝘁𝗲𝗿𝘄𝗮𝘃𝗲 𝗦𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝗲𝗻𝘀 𝗜𝘁𝘀 𝗖𝗼𝗻𝘁𝗶𝗻𝗲𝗻𝘁𝗮𝗹 𝗙𝗼𝗼𝘁𝗽𝗿𝗶𝗻𝘁; 𝗦𝗲𝗻𝗱 𝗔𝗽𝗽 𝗡𝗼𝘄 𝗶𝗻 𝗠𝗮𝗹𝗮𝘄𝗶. Last year, on November 9, 2023, Flutterwave announced its official authorization to facilitate international remittances in Malawi which enables the company to process remittances from Malawians and other Africans sending money back home. Flutterwave has now extended its Send App services to Malawi, allowing seamless cross-border money transfers for Malawians abroad to bank accounts and mobile money wallets in their home country. "At Send App, we are committed to affordability, speed, security, and user satisfaction, making it the premier choice for your loved ones in the diaspora," stated Flutterwave. In a parallel development showing Flutterwave's regional growth strategy the company secured a Payment Systems Operator license from the Bank of Uganda, adding to similar approvals obtained in Mozambique, Ghana, and other African nations. Further enhancing its service offerings, Flutterwave has also partnered with American Express to provide a new payment option for online merchants in Nigeria. This collaboration allows merchants to accept payments from American Express Card Members, with plans to expand this service to Tanzania, Rwanda, Ghana, and Uganda in the near future. The company has published a guide for Malawians new to the app: https://lnkd.in/dhTf8srS #Flutterwave #Africa #Fintech #DigitalPayments #Remittances #Mobilemoney #FinancialInclusion

Flutterwave Secures Enhanced Payment License from Bank of Ghana Flutterwave, a leading payments technology company, has been granted a Payment Service Provider license (Enhanced Category) by the Bank of Ghana. This significant milestone allows Flutterwave to offer a comprehensive suite of payment services directly within Ghana, streamlining money transfers and enhancing the overall efficiency of digital transactions in the country. With Ghana's tech-savvy youth population and high mobile internet penetration rate of 71%, the nation presents a promising market for Flutterwave’s innovative solutions. The country's digital payments market is expected to reach $7 billion in 2024, with a projected growth rate of 15.78%, resulting in a total value of $12.96 billion by 2028. #Flutterwave #DigitalPayments #Ghana #TechInnovation #BankofGhana #PaymentsTechnology #MobileMoney

Flutterwave has officially launched its remittance product, Send App, in Malawi, marking a significant milestone in the fintech’s expansion across East Africa. This launch, following the receipt of an International Money Transfer Operators (IMTO) licence from the Reserve Bank of Malawi, enables customers to facilitate cross-border money transfers into the country. The Send App, rebranded in August 2023, now supports both mobile and web platforms, offering Malawian residents access to competitive exchange rates and global security standards. With the IMTO licence granted in October 2023 and announced in November 2023, Flutterwave is poised to streamline remittance processes for both Malawian residents and diaspora communities. Olugbenga Agboola, Flutterwave’s CEO, emphasized the app’s role in simplifying money transfers for Malawians abroad and reaffirmed the company's commitment to innovation and broader access across the African continent. Lumbani Gondwe, CDFP, Exe. MBA, Country Manager for Malawi, highlighted that Send App will offer comprehensive bank coverage and additional features like Mobile Money and Cash Pickup. This will ensure affordable, quick, and secure international money transfers for Malawians, enhancing financial inclusion and connectivity both domestically and internationally. Flutterwave’s expansion into Malawi comes as the digital payments market in the country is set to grow significantly, with projected transaction values reaching $3.52 billion in 2024 and $6.87 billion by 2028. Additionally, Flutterwave has further extended its reach by securing a Payment Systems Operator (PSO) licence in Uganda, reinforcing its position as a key player in the African digital payments landscape. #Fintech #DigitalPayments #Flutterwave #SendApp #Remittances #FinancialInclusion #Malawi #EastAfrica #PaymentSolutions #Innovation

The Bank of Uganda has granted Flutterwave a Payment Systems Operator license. This milestone opens up a wide array of payment solutions for Ugandan businesses, enabling them to receive payments via their preferred methods. As Africa's digital economy surges, driven by increasing internet use, Uganda stands out with its vibrant digital landscape and a population of over 47 million. Mobile money adoption is impressive, with more than 50% of the population holding mobile money accounts. Additionally, Uganda is among Africa's top remittance recipients, with approximately $1.1 billion received in 2021. Stay tuned for more updates! 🔍 #Bestdigitalinnovation #Bank #Loan #Fintech #Moneytech

Flutterwave has achieved a significant milestone by securing a Payment Service Provider (PSP) License (Enhanced Category) from the Bank of Ghana. This new license enables Flutterwave to expand its payment solutions across Africa, allowing businesses in Ghana to seamlessly accept payments from customers and transfer funds to suppliers, vendors, and employees. This achievement underscores Flutterwave's commitment to regulatory compliance and providing secure and reliable payment solutions. The PSP license from the Bank of Ghana is the latest addition to Flutterwave's growing list of licenses, following approvals from the National Bank of Rwanda (NBR) for electronic money issuance and remittance. This expansion strategy highlights Flutterwave's dedication to increasing its presence and influence across Africa, particularly in the East African region. The fintech's focus on regulatory compliance ensures that it continues to offer trustworthy and efficient payment services. Ghana's thriving digital landscape, characterized by deep internet penetration, a tech-savvy youth population, and numerous local tech startups, makes it an ideal environment for innovative payment solutions. Flutterwave recognizes the immense potential for digital payments in Ghana, with the market projected to reach $7.46 billion in 2024 and grow at a compound annual growth rate of 14.81%, reaching $12.96 billion by 2028. This growth trajectory positions Ghana as a key market for Flutterwave's expansion. With the PSP license, Flutterwave is poised to significantly contribute to the growth of digital payments in Ghana. The company aims to provide businesses with the necessary tools to thrive in the digital economy, fostering economic development and financial inclusion. Flutterwave's entry into the Ghanaian market represents a pivotal step towards realizing its vision of a connected and digitally empowered Africa. Olugbenga Agboola #Flutterwave #DigitalPayments #Fintech #Ghana #PSPLicense #RegulatoryCompliance #FinancialInclusion #TechInnovation #DigitalEconomy #AfricaTech #PaymentSolutions

Mukuru, an African financial services company, has introduced a new mobile wallet in Malawi. The Mukuru Wallet lets users send and receive money locally and internationally, save funds, earn interest, and pay for services like airtime and electricity. This move aims to boost financial inclusion and offer better money transfer options for Malawians. This launch follows Mukuru's acquisition of assets from Zoona in Malawi and fits the company's plan to grow in key African markets. It's a big step for Malawi's financial scene, where mobile money users grew by 14.1% to 12.2 million in 2022. By offering a digital platform for money storage and payments, Mukuru hopes to cut down on cash risks and give people, especially in rural areas, an alternative to traditional banks. This reflects the wider trend of fintech companies using mobile tech to reach unbanked people in Africa. #DigitalWallet #FinancialInclusion #MalawiFintech #RemittanceInnovation #MobileMoneyAfrica

Ghana Aims to Becoming Africa’s Digital and Economic Beacon. PENRESA highlights Ghana's strategic positioning as a leader in digitalization and economic growth across Africa. With significant investments in infrastructure and innovative initiatives, the country is enhancing its reputation as a hub for stability and innovation. Ghana's digital economy is currently valued at approximately $1 billion, projected to grow to $5 billion by 2030, primarily driven by the service sector. Recently, Flutterwave, a leading African fintech company, was granted a Payment Service Provider license by the Bank of Ghana, enabling the company to offer a comprehensive suite of payment services directly within and through Ghana. As Ghana embraces digital technologies, it aims to ensure that all citizens have 24/7 access to essential services, positioning itself as a model for digital change and economic growth throughout Africa. Read More: https://lnkd.in/dFdivy3g

"Ghana's Digital Transformation: A Catalyst for Economic Growth and Financial Inclusion" - Dr. Maxwell Opoku-Afari. Dr. Maxwell Opoku-Afari, First Deputy Governor of the Bank of Ghana, discusses the progress in Ghana's economy and its digital landscape. He explains his involvement in creating the Ghana Integrated Payment and Settlement Systems (GHIPSS), which helped reduce inefficiencies in Ghana's financial transactions. Under his leadership, initiatives like payment interoperability, the GH-QR Code, and GhanaPay Mobile Money were successfully launched, improving GHIPSS's functionality. Opoku-Afari highlights the transformative effects of the Fintech Sector, supported by regulatory changes such as the Payment Systems and Services Act, 2019, and the establishment of the FinTech and Innovation Office in 2020. These efforts support the government's goals to digitize fiscal revenue collection, encourage a cashless society, and enhance digital literacy. Find out more: https://lnkd.in/dpMnNX2X #BankOfGhana #DigitalEconomy #Fintech #GHIPSS #DigitalInclusion #FinancialInnovation #AfricaFintech