Flutterwave wants to transform payments processing in Kenya (and Africa)
Flutterwave, a startup that wants to make it big in Africa has set its inroads in Kenya’s already busy fintech playing field. Flutterwave hopes to ‘process payments to & from Africa with one API’. The startup was founded by Iyin Aboyeji who left Andela to begin this new US-based startup.
Apparently, Flutterwave now now supports payments in two main currencies: the US Dollar and the Kenyan Shilling. Flutterwave also supports MPesa a major fintech giant in Kenya along with the global Visa and Mastercard.
For its entry into the country, Fluterwave partnered with KCB Bank. Also, mark you, you can send money to any VISA or MasterCard-touting bank in Kenya with Flutterwave’s API.
One of their first clients is The Ticket Fairy, an event-ticketing platform in Kenya as well as Nigerian Access Bank’s PayWithCapture app. Other than Nigeria and Kenya, Flutterwave also wants a hit in Ghana.
“Flutterwave is building digital payments infrastructure accessible via APIs that enable all available payment options across different African countries. Our API allows businesses accept and disburse payments from MasterCard, Visa, Verve, Mobile Money, ACH?—?and even cash tokens and e-wallets in different African countries by integrating one API. Our technology will enable the next generation of technology leaders in Africa to launch and support businesses that will scale?—?not only across Africa, but across the U.S. and other major international markets,” Aboyeji said when he left Andela to create the startup that would seem to be Africa’s Stripe equivalent.
“The payments problem in Africa is humongous. Financial Inclusion, infrastructure development, e-payments adoption due to security, low literacy levels & merchant acceptance are a few, and so we’re excited to have Flutterwave join the league of companies working hard to solve these problems.”
Pesapal, one of the popular Kenyan payment processing platforms now has a West African competitor clamouring for its clients right in its backyard.
If you are interested in using its API, head over here to register. However, the Flutterwave Kenya API was said to roll out by 1st October. Their entry into the Kenyan market was noted by The Next Web in their monthly Africa report (a must-read by the way).