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Flutterwave Expands Services in Rwanda

Flutterwave received its Electronic Money Issuer and Remittance Licenses from the National Bank of Rwanda to deploy a range of new products to the country’s 13.5 million citizens

Flutterwave Expands Services in Rwanda

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With the new Electronic Money Issuer and Remittance licenses, the African payments technology company Flutterwave will be able to offer money deposit and withdrawal, electronic funds transfer, as well as inbound and outbound remittance services in Rwanda.

A range of products to be deployed in Rwanda includes Send by Flutterwave, its proprietary cross-border money transfer solution, Flutterwave for Business with its suite of related products, including Store, payment links, invoices and checkout. All these services will help both individuals and businesses in the country make the most of the booming e-commerce market.

“As a country well known for fostering innovation and promoting the use of digital technology, Rwanda has always been important to our expansion plans in East Africa. We are delighted for the vote of confidence in being granted these licenses. With them, we will leverage our extensive global reach and continuous growth in emerging markets to provide MSMEs in Rwanda with the tools they need to stimulate the economy.”
Olugbenga “GB’ Agboola, Founder and CEO of Flutterwave

Micro, Small & Medium Enterprises (MSMEs) in Rwanda account for about 97% of businesses and contribute almost 55% to the total GDP. That makes small merchants critical to job creation and the economic growth of the country. New tools provided by Flutterwave will help them facilitate business operations and reach more customers globally.

Besides using Flutterwave as a payment gateway at the checkout stage, sending invoices and payment links, businesses can also set up their online stores straight from the Flutterwave dashboard.

Founded in 2016, Flutterwave has developed an API that lets global merchants and businesses process credit cards and local alternative payment methods popular in African countries.

The company’s proprietary software enables both foreign and African sellers to serve pan-African customers while processing payments like a local company. The list of existing customers includes Uber, Booking.com, and Jumia.

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.