This is a blast on Africans as they can now make payment and also receive payments with Flutterwave from Paypal. This new partnership will enable paypal customers pay Africans merchants in the continent.
Flutterwave is a fintech company that provides a payment infrastructure for global merchants and payment service providers. Founded in 2016 by two Nigerian entrepreneurs, Iyinoluwa Aboyeji and Olugbenga Agboola to provide a solution to the fragmented state of online payments in Africa.
Flutterwave is a Fintech company built by Africans for Africans. Flutterwave announced this on the 16th of March 2021, a partnership with PayPal to allow PayPal customers globally to pay African merchants through its “Pay with PayPal” feature.
This announcement comes barely a week after Flutterwave raised a Series C round of $170m, led by New York-based private investment firm Avenir Growth Capital and U.S.
Flutterwave CEO Olugbenga Agboola (GB) wrote on twitter:
As we build the largest payment infrastructure in Africa @theflutterwave, we also know that Africa does not exist in isolation. We need to connect Africa to the world when it comes to payments and we took a closer step to that today.
Today, we are announcing an important step towards achieving our mission and goals. We @theflutterwave have collaborated with @PayPal to allow businesses in Africa receive payments from over 377 million @PayPal users all over the world.
This removes the restriction for African merchants to accept PayPal because once you have @theflutterwave for business, PayPal is now one of your payment types.
The service is available for merchants with registered business accounts on Flutterwave, will be operational across 50 African countries and worldwide, the company claims. Flutterwave hopes to roll out this service to individual merchants on the platform as well.