Flutterwave has entered into partnership with Paypal to allow PayPal customers to pay African merchants in the continent through Flutterwave’s platform.
The move made by Flutterwave, would eliminate payment glitches and ensure seamless transactions for African businesses worldwide.
The transactions would be done through the Flutterwave new ‘Pay with PayPal’ feature.
Flutterwave has transformed Africa’s payments space by offering flexible, quick and affordable payment services to individuals and businesses.
“Flutterwave merchants in Kenya, South Africa, Egypt, Morocco, Mauritius, Malawi, Mozambique and Senegal are able to easily accept payments from PayPal users worldwide,” it said.
The US based tech company said this is an opportunity that has just been made available to everyday African businesses.
The firm which recently raised $170m in Series C round at a valuation of $1bn also noted that the partnership would allow African traders and merchants to sell to the world.
The company said, “Just last year 2020, PayPal‘s 377 million+ users made transactions that saw PayPal end the year with a $936bn total payment volume for the year 2020. This trillion dollar opportunity didn’t include most African businesses until this new integration between Flutterwave and PayPal.”
According to the tech company, PayPal transaction fees of 4.4 per cent of the transaction value $0.30 per transaction apply to the service.
Marchants would be settled through payment into their PayPal account, Flutterwave said in the statement.
“This removes the restriction for African merchants to accept PayPal because once you have @theflutterwave for business, PayPal is now one of your payment types,” said flutter wave Chief Executive Officer and Co-founder, Olugbenga Agboola.