- Flutterwave Connects African Merchants to A billion Market
A Lagos-based financial technology company, Flutterwave, said it has partnered Alipay, China’s largest payment company to open up more markets for its over 60,000 merchants.
Alipay is an online mobile payment platform established in Hangzhou, China by Jack Ma in February 2004.
Alipay now supports over a billion users and will help African merchants accept payments from China and other nations using Alipay as their payment platform.
With trade between China and Africa estimated at $200 billion and projected to even grow more, African start-ups can now market and push local products to Chinese audience.
This will help, even if slightly, increase African exports to China, help job creation and strengthen foreign revenue. China exports goods worth $15.92 billion to Africa between January and February, while Africa exports $16.24 billion to China during the same period.
According to Olugbenga Agboola, Flutterwave, CEO: “This means that all our merchants can accept or install Alipay as a payment type to accept payments from its billion users. There’s a lot of trade between Africa and China and this integration makes it easier for African merchants to accept Chinese customer payments.” That is unification via payment.
In May, Flutterwave announced it has been granted ISO 27001 and 22301 certifications by the International Standards for Organisation (ISO) in Switzerland after completing the process in 2018. An indication of the company’s proven security and standard business management backed with modern innovation.
Again in June, Flutterwave launched in South Africa following the approval of its licence by the South African Reserve Bank.
Now the company has partnered the number one online payment platform in the world to bring more opportunities to African merchants and businesses.