Flutterwave Expands Operations with Payment Licence in Zambia

Flutterwave has secured a Payment System licence from the Bank of Zambia, extending its operations in the region. This development allows Zambian businesses to utilize Flutterwave’s payment solutions for smooth transactions. The company aims to enhance digital financial services across Africa, now spanning over 30 countries.

Flutterwave has recently obtained a Payment System licence from the Bank of Zambia, marking a significant expansion of its operations within the country. This licence allows Zambian businesses to access Flutterwave’s payment solutions, facilitating both local and international transactions, thereby enhancing digital financial services throughout Africa. With this addition, Flutterwave continues to strengthen its presence across the continent, now serving over 30 nations.

In Zambia, mobile money services comprise nearly 70% of the financial inclusion landscape, positioning Flutterwave’s entry as pivotal in promoting digital transactions and fostering business growth. The company’s advanced technology ensures secure and cost-effective payment solutions, enabling enterprises to efficiently scale their operations. Businesses can utilize Flutterwave’s platform for streamlined mobile money collections and payouts, reducing reliance on cash-based transactions.

As a leader in Africa’s fintech sector, Flutterwave’s establishment in Zambia serves as a vital gateway for international ventures seeking to enter the Zambian market. The platform facilitates seamless local transactions and supports businesses in expanding their global reach. Additionally, by providing cross-border payment solutions, Flutterwave empowers Zambian firms to efficiently collect payments from international customers, thereby enhancing their business capabilities.

Flutterwave’s entrance into Zambia is aligned with its commitment to upgrading payment infrastructure across Africa. Previously, the company secured a Payment Service Provider licence in Ghana in August 2024 and received in-principle approval for a payment aggregator licence in Mozambique in June 2024. These developments emphasize Flutterwave’s strategy to broaden its influence on the African fintech landscape.

In 2021, Flutterwave collaborated with MTN Group to facilitate mobile money payments across various African markets, including Zambia. This partnership enabled businesses to accept payments through MTN Mobile Money (MoMo), thereby increasing the accessibility of digital payment methods in the region. As Africa experiences a surge in digital payment adoption, Flutterwave’s strategic maneuvers fortify its position as a crucial participant in the continent’s fintech evolution, promoting financial inclusion and bridging economic disparities.

In summary, Flutterwave’s acquisition of a Payment System licence in Zambia signifies a vital step in enhancing digital financial services in the region. This move not only enables Zambian businesses to engage in seamless transactions but also positions Flutterwave as a key player in Africa’s evolving fintech landscape. The company’s commitment to providing secure payment solutions aligns with its goal of fostering economic growth and inclusion across the continent.

Original Source: techpoint.africa