Flutterwave plans to expand footprints in MENA region
By Oghale Mafuru
Africa’s leading payment technology company, Flutterwave, is gearing up to expand its services across North Africa and the Middle East following the recent approval from the Egyptian authority to let it operate as a Payment Service Provider in the country.
The company announced that it received its Payment Services Provider and Payments Facilitator licenses in Egypt, which will enable it act as an official Payment Service Provider in the country, collect payments on behalf of its customers and settle payments locally and globally.
Flutterwave, which is now one of the few payment service providers in Egypt with both local and global settlement capabilities, will now be able to deploy the company for Business suite of products including store, payment links, invoices and checkout in Egypt.
Commenting on how the operational permit in Egypt will deepen its reach across the Middle East and North Africa, MENA region, Aalaa Gamal, Regional Manager, North Africa in Expansion & Partnerships, Egypt, expressed optimism that the recent expansion is a strategic initiative to establish its presence in the MENA region and beyond.
“We’re excited to receive the payments services provider and facilitator licenses in Egypt. The licenses will enable us to be the go-to payment processor and digital transformation partner for global settlements in Egypt, which enables our customers to expand quickly within or outside of the country. This, for us, is the beginning of other strategic wins in the North Africa and Middle East regions.”
Olugbenga GB Agboola, CEO and Founder of Flutterwave, said: “We are proud to have been granted the Payment Services Provider and Payment Facilitator licenses in Egypt, which forms part of our 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.”
As part of Flutterwave’s expansion initiatives, the firm 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.
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