Payment technology company processes $2.5bn in 2 years

Whatapp News

Payment technology company

By Florence Onuegbu

Lagos –  Flutterwave, a payment technology company, says it has processed over US$2.5 billion on behalf of its clients since its establishment in Nigeria in 2016.

Gbenga Agboola, Chief Executive of Flutterwave, told journalists in Lagos that the company used its payment platform, ‘Rave’, to process transactions from across the globe.

Agboola said that the company was focused on providing seamless and secure payment experiences for banks and businesses by building payments infrastructure to connect Africa to the global economy.

He said that Flutterwave supported local and international card, Automated Clearing House (ACH), mobile money, QR and Unstructured Supplementary Service Data (USSD) payment methods.

”Rave also supports disbursements to bank account and mobile money wallets across Africa, bank accounts across the globe.

”Since our founding in 2016, the company has processed over US$2.5 billion for clients such as Uber, Facebook, Transferwise, Flywire, Booking.Com, among others.

”Some of our investors include Mastercard, Omidyar Network, Combinator as well as other notable Silicon Valley venture firms,” Agboola said.

He said that the company had very high security measures, as it placed a very high premium on security and trust of its merchants.

According to him, Nigeria is advanced when it comes to mobile money payment transfer.

”Nigerian banks are very advanced compared to others banks abroad. The cultural nuance is a major determining factor in any country.

”With our solutions, a merchant can accept local and international payments from card and bank accounts. Our technology also powers services like PiggybankNG, Thrivesed.com, Walletng, MAXGO and a host of other platforms.

”As we often call ourselves, we are the Google of everything payment. We process any kind of cards, and we can be operated from any part of the world, especially with one of our new trending product called ‘Rave’.

”Although, we are about two and a half years now in Nigeria, we have had great level of partnership from different companies and customers.

Agboola said that the firm had over 25,000 direct merchants on its platform and uncountable indirect merchants.

He said that Flutterwave was about the only online financial service provider with the most affordable financial charges, as it charged 1.4 per cent on transactions. (NAN)

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