San Francisco and Lagos-based fintech giant Flutterwave, led by Nigerian multimillionaire tech entrepreneur Olugbenga Agboola, has secured an Enhanced Category Payment Service Provider License from the Bank of Ghana, streamlining its operations and enhancing payment efficiency.
The new license eliminates the need for third-party services, allowing Flutterwave to offer a comprehensive suite of payment services directly within Ghana. This move is a significant milestone in the company's African expansion.
Flutterwave sets new Standard for Financial ServicesGhana, with its stable democracy, tech-savvy youth, and 71 percent mobile internet penetration, presents a fertile ground for Flutterwave's innovative solutions. The nation's digital payments market is forecasted to hit $7 billion in 2024, with a projected annual growth rate of 15.78 percent, reaching $12.96 billion by 2028.
For Ghanaian customers, Flutterwave's license promises more seamless and secure money transfers. Businesses will gain from direct collection and payout services, automated invoicing, payment links, and a checkout system supporting various payment methods, including cards, mobile money, and bank transfers.
