Flutterwave Expands Into North Africa With New Egypt Payments Licenses
Flutterwave, Africa’s leading payments technology company, has received its Payment Services Provider and Payments Facilitator licenses in Egypt.
Flutterwave, will as an official service provider, collect payments on behalf of its customers and settle payments locally and globally. The licences allows the deployment of Flutterwave for Business suite of products including store, payment links, invoices, checkout in Egypt.
Flutterwave as a result of these licenses becomes one of the few payment service providers in Egypt with both local and global settlements capabilities.
Flutterwave facilitates cross-border transactions in multiple currencies for global companies, including Uber, and the new licenses will help the company support international businesses entering the Egyptian market or growing their operations.
Flutterwave will also be in a strong position to empower businesses based in Egypt to expand internationally, in addition to creating new jobs in the country through empowering local businesses.
“We’re excited to receive the payments services provider and facilitator licenses in Egypt,” said Aalaa Gamal, Regional Manager, North Africa in Expansion & Partnerships.
“The licenses will enable us to be the go-to payment processor and digital transformation partner for global settlements in Egypt, enabling our customers to expand quickly within or outside of the country. This is the beginning of other strategic wins in the North Africa and Middle East regions.”
Founder and CEO, Olugbenga GB Agboola said Flutterwave is proud to have been granted the Payment Services Provider and Payment Facilitator licenses in Egypt, which forms part of its international expansion strategy.
“This is testament to our commitment to provide first-class payment services, seamlessly connecting businesses to their customers.
“Our vision is to connect all parts of Africa through payments and connect Africa to the world. This way, it is easier for multinationals expanding into Africa to do so. This achievement is yet another step in that direction,” Agboola added.
As part of expansion initiatives, Flutterwave has also made it possible for users to send money to Ethiopia via cash pickup. Ethiopians in Diaspora can send money home and have the receivers pick up the cash in Dashen bank branches, Amole Agents and Ethiopian postal service offices.