Africa’s leading payments technology platform, Flutterwave has announced its commencement of instant settlement for its merchants.

This move will see Flutterwave merchants receive their money in their bank account as soon as they are paid on Flutterwave’s platform. This enables seamless cash flow for merchants.

Flutterwave recently introduced Pay With Bank Transfer, integrated with Alipay and now have made it easier for merchants to stay cash flow positive. These moves are in line with their desire to grow businesses as confirmed by Flutterwave CEO, Olugbenga “GB” Agboola.

“All the features and updates we make are intentional because the theme and goal remains the same – we want to grow your business,” GB said.

“One of our core values is “We Create and Innovate.” So, during one of our many brainstorming sessions, the team thought about different ways we could improve our merchants’ experience. One of the key things revolved around settlement timelines. Our engineering team then developed a way to make the process simpler and less manual. The settlement team then realized they could complete settlements faster for merchants. Our innovation to improve the pain point of a team resulted in a new offering we could share with all of our merchants. Our focus on customers enables us to create more seamless and secure ways for payments.” GB explained.

“I want to see Nigerian businesses take advantage of this opportunity that we’re providing to really grow their businesses, to make an impact and grow the larger African economy,” He concluded.

This new settlement for local transactions is geared at stimulating Africa’s largest economy to continue expanding and also stimulate much-needed growth. With the improved settlement timelines, the company estimates that merchant collections could double and they also expect a boost in merchant acquisition numbers which is already on the rise.

Founded in 2016, Flutterwave allows clients to tap its APIs and work with Flutterwave developers to customize payments applications. Since inception, the payment platform has processed over 100 million transactions worth over $3 billion and counts Uber, Wakanow, Arik Air among other multinational businesses amongst its customers.

Read this next
More From TC
Business, Developers, Entrepreneurship, Funding
17th September 2019

Andela, the Africa-focused tech accelerator, is laying off more than 400 employees across three countries as the company changes its business model away from developer training. The company told TechCabal it is laying off 250 junior developers from Nigeria and Uganda and about 170 others in Kenya. CEO Jeremy Johnson said the company will now […]

FBI announces arrest of 167 alleged fraudsters in Nigeria in anti-fraud operation
Business, ecosystem, FinTech, Government, Internet, Mobile, News, Policy, Technology
11th September 2019

The Federal Bureau of Investigation (FBI) has arrested 281 individuals, including 167 in Nigeria, for their involvement in fraudulent business email compromise (BEC) schemes, the agency announced recently. Working with over 12 agencies across multiple countries, the FBI disclosed that the latest arrests are part of Operation reWired, a four-month international operation “designed to intercept […]


TechCabal is a Big Cabal Media brand



Copyright © 2019
All rights reserved

Privacy & Terms