Africa is fast becoming a global economy in this new digital space. Most organizations based in other first world countries find it difficult to penetrate the Africa market due to the faulty payment system in Africa. Flutterwave thrives to be the only payment solution for the global economy.
Flutterwave is here to make it possible for any business to start and launch their businesses in Africa by integrating accessible and alternative payment structures into their businesses.
What Is Flutterwave
Flutterwave founded by Iyinoluwa Aboyeji, Olugbenga Agboola in 2014 is a global payment technology for businesses and banks to help provide seamless and secure payment solutions to their customers.
With Flutterwave, businesses can thrive in Africa by offering credit card payment options, mobile money services and the ability to move money from a person/business to the bank and vice versa.
What products/services do they offer?
Rave is a payment structure by Flutterwave that lets any business easily accept payment from customers all over the world.
If your reason for not going global in your business is due to a faulty payment structure, then Rave by Flutterwave got you covered.
The payment gateway is built to help detect fraud, letting you better understand your customers.
It is an API software integrated into your business website that lets you receive payments directly from your customer’s bank account, mobile wallets or their bank cards.
Barter by Flutterwave is your mobile-friendly financial wallet. It helps you focus on managing your finance by tracking your general expenses. With the Barter App, you can also send and request money from your contacts. Buy airtime for yourself or others in your contact list, make payments such as TV subscription bills, utility bills, etc as well as buy your internet subscription or mobile data subscription all from the app.
Barter also helps you create a virtual card that can be used to accept or make payments from anywhere in the world directly to your Barter account.
Why should anyone care about using Flutter wave? There are so many reasons an individual or any private business should use Flutterwave. Here are just a few of them:
Flutterwave offers seamless transactions.
Whether you are an online or offline business, Flutterwave got you covered.
Flutterwave is designed for customers as well as businesses.
Flutterwave makes financial services accessible to everyone.
Barter by Flutterwave helps you become a better person in your Finances.
History Of Flutterwave
According to Iyinoluwa Aboyeji, one of the founders of Flutterwave, Flutterwave began as a means of meeting/filling the Financial gap for businesses in Africa.
He stated that while working with Andela, he realized that they often had difficulty sending money into Africa. When he eventually was able to send the money, he would incur a lot of fees for sending money to Africa.
He understood that this hindered a lot of businesses from entering into Africa, and the need to birth Flutterwave emerged.
Aim of Flutterwave
Flutterwave strives to be the company that makes it possible for first-world businesses to launch and start in Africa by providing easy and accessible payment processes for both the customer and the business.
Pros of Flutterwave
- Virtual Card: If you do most of your businesses online, then you may eventually need a Dollar card for some of your transactions. Flutterwave has got this covered by providing a dollar virtual card that can be used just like a normal card used by an average person every day, except, this time, it’s online.
- Control Over Your Finance: With the Barter app provided by Flutterwave, you can now take absolute control of your money by watching how you spend and help you maximize your funds. You can also request money from friends and families, or take a loan from them and get to pay back when you want. You also get to know where all your finances are going and what is being spent on what.
- Zero Fee: How much does it cost to utilize Flutterwave and make transfers one to another? 0 cost. Flutterwave makes it easy for small business owners and end-users to easily integrate and utilize Flutterwave because of the Flutterwave zero-fee cost.
- Multiple Currency: Do you know you can send money from one user to another in another country without having to worry about the exchange of currency and the rates? Yes, Flutterwave takes off the burden of having to worry about exchanges. You can send your money with your local currency and have the person receive it in their own currency. No hassles.
Cons of Flutterwave
- Personal Data: Flutterwave collects some intrusive personal data from its users. For some, it may be okay to give out such personal information but for others, they may be too personal to give out.
Final Thoughts on The Flutterwave App
Flutterwave seems to be the leading financial service platform in Africa that strives to bridge the gap between businesses and end-users.