Africa’s leading payments company, Flutterwave, has partnered with Paypal to further deepen payments in Africa, according to the latest report from the company.
Flutterwave, which raised $170 million at $1 billion value last week, said the collaboration with Paypal is to allow African merchants receive payment through Flutterwave from over 300 million Paypal customers globally.
According to Olugbenga ‘GB’ Agboola, the Chief Executive Officer, Flutterwave, the integration will happen via Flutterwave pay with Paypal presently available as a payment option for merchants with registered business accounts on Flutterwave.
The company now plans to roll out the same service to individual merchants on its platform.
“In a nutshell, we’re bringing more than 300 million PayPal users to African businesses so they can accept payments across the continent,” he said stated. “Our mission at the company has always been to simplify payments for endless possibilities, and from when we started, it has always been about global payments. So despite having the largest payment infrastructure in Africa, we want to have arguably all the important payments systems in the world on our platform.”
The partnership will address some of the payment bottlenecks impeding freelancers in Africa and facilitate capital inflow, especially in Nigeria and other African nations where users can only send money using Paypal but can not receive funds.