Flutterwave expands into North Africa with new Egypt payments licenses

Flutterwavea leading payment technology company in Africa, today announced that it has acquired a Payment Service Provider and Payment Facilitator license in Egypt.
The license will allow Flutterwave to act as an official payment service provider in the country, collecting payments on behalf of customers and settling payments locally and globally. The license will allow Flutterwave to deploy Flutterwave for Business products including stores, payment links, invoicing, checkout in Egypt.
Flutterwave as a result of the license became one of the few payment service providers in Egypt with local and global settlement capabilities.

Flutterwave facilitates cross-border transactions in multiple currencies for global companies, including Uber, and the new license will help the company support international businesses entering the Egyptian market or expanding operations in the country. Flutterwave will also be in a strong position to strengthen businesses based in Egypt to expand internationally, in addition to creating new jobs in the country through strengthening local businesses.

Commenting on the news, Aalaa Gamal, Regional Manager, North Africa at Expansion & Partnerships, Egypt, said, “We are pleased to receive a payment service provider and facilitator license in Egypt. The license will allow us to become a payment processor and digital transformation partner for global settlements in Egypt, which allows our customers to expand quickly inside or outside the country. This, for us, is the beginning of another strategic victory in the North Africa and Middle East region.

Commenting on the news, Olugbenga GB Agboola, CEO and Founder of Flutterwave said:
“We are proud to have been granted a Payment Service Provider and Payment Facilitator license in Egypt, which is part of our international expansion strategy. This is proof of our commitment to provide first-class payment services, seamlessly connecting businesses to customers. Our vision is to connect all parts of Africa through payments and connecting Africa to the world. In this way, it is easier for multinational companies to expand to Africa. This achievement is another step in that direction.”

As part of Flutterwave’s expansion initiative, they have also made it possible for users to send money to Ethiopia via cash pickup. Ethiopians in the Diaspora can send money home and ask the recipient to pick up the money at Dashen bank branches, Amole Agents and Ethiopian postal service offices.

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About Flutterwave

Flutterwave is a leading payment technology company that enables businesses worldwide to expand their operations in Africa and other emerging markets through a platform that enables local and cross-border transactions through a single Application Programming Interface (API). Flutterwave has processed over 400M transactions worth over USD $25B and serves over one million businesses including customers like Uber, Air Peace, Bamboo, Piggyvest and more. The main advantage of the company is to connect its business to various types of local and international payments in order to expand globally. It also allows cross-border transactions from the diaspora to African countries through Sendapp products. Flutterwave processes payments through various payment modes including local and international cards, mobile wallets, bank transfers, and Google Pay. The company has infrastructure coverage in 34 African countries For more information on Flutterwave’s journey, visit: www.flutterwave.com