Before Flutterwave’s launch in 2016, many African businesses and individuals had a hard time paying for services from companies like Google, Amazon or Facebook.
In Nigeria, for instance, subscribing to YouTube Music, or Spotify would mean several calls between customers and their banks, or frustrated attempts using debit cards. Flutterwave’s digital payment infrastructure was part of the revolution, which at the time, included Paystack’s web payments service and Interswitch’s upgrade of WebPay. While Paystack was more involved with helping startups collect payments, Flutterwave focused on helping anyone send and receive money via its API.
Since then, the digital payments service has transformed payments in Africa with a number of solutions. It’s taken a leading role in solving payments problems by enabling merchants and banks to receive multiple payment integrations with one simple API. It allows African merchants collect payments from their customers anywhere in the world, on web and mobile. Other than payments solutions, it’s also created several products including Flutterwave Store, an online marketplace for merchants; Flutterwave Grow, which helps users register and incorporate their businesses in the US and UK; and Flutterwave Mobile, an app that allows MSMEs use their phones as POS machines. This year also saw the release of an integration with PayPal, which allows African merchants in 50 countries to receive payments through PayPal.
Its latest product, Flutterwave Send, is taking payments to the global level.
With Send, Flutterwave is empowering customers with a product that allows them to instantly send money “in a way that’s convenient to the recipient”. According to Flutterwave, users will be able to process payments—in over 150 currencies—in 40+ countries. Merchants, for example, can use Send to process payments to contractors and employees all over the world. Individuals can use it to top up their bank accounts, allowing constant access to financial services regardless of location. “Send is finding yourself in Nairobi and being able to add your US-issued bank card to a product that will allow you to patronise local businesses straight to their mPesa wallet,” Flutterwave announced.