Flutterwave, on a mission to build payments infrastructure to connect Africa to the global economy, has announced a new partnership with global payment leader PayPal to enable global PayPal customers to pay African merchants in the continent through Flutterwave’s platform.
Traditionally, Africa’s e-commerce ecosystem lagged in having suitable payment solutions that meet the demand for seamless transactions worldwide, constraining its contributions to the global digital economy. The partnership eliminates barriers that have previously hindered African consumers and businesses from the untapped potential of cross-border e-commerce.
The collaboration will support SMEs and freelancers to overcome the challenges presented by the highly fragmented and complex payment and banking infrastructure and connect them with more than 377 mn PayPal account holders globally.
“We are excited to bring PayPal’s fully integrated services to businesses across Africa. The collaboration reinforces our vision of creating a seamless digital payments system for Africa’s business communities that can now transact with international consumers.
By working with PayPal, we can further strengthen our commitment to our customers and service users as we will be enabling them to transact and expand their business operations to reach new markets. PayPal’s global reach is unrivalled, and collaborating with them allows our customers to explore new markets where PayPal is embedded.
Through our collaboration with PayPal, we are also bringing together two trusted global payment brands to provide millions of consumers and businesses a gateway to new opportunities,” said Olugbenga ‘GB’ Agboola, Founder and Chief Executive Officer of Flutterwave.
Flutterwave has transformed the payments space in Africa by offering flexible, quick and affordable payment services to individuals and businesses across the continent. Recently, the firm raised $170 mn in Series C round at a valuation of $1+ bn. The partnership announcement solidifies the company’s position as the global African payments partner of choice for multinationals looking to enter new markets, further reassuring new and existing merchants and investors of Flutterwave’s global capabilities, secured platform and high standards of safety.