Flutterwave Secures Payment System License from the Bank of Zambia

Flutterwave has secured a Payment System license from the Bank of Zambia, enabling it to facilitate local and international payment acceptance for Zambian businesses. The company’s solutions cater to the growing digital payments market, projected to reach USD 6.7 billion by 2025. With an emphasis on security and operational efficiency, Flutterwave provides the tools necessary for businesses to thrive in Zambia’s evolving digital landscape.

Flutterwave, a fintech service provider, has obtained a Payment System license from the Bank of Zambia, which facilitates its operations within Zambia. This expansion of its payment solutions aims to assist Zambian businesses in accepting payments from both local and international customers through their preferred payment methods. Furthermore, Flutterwave enables efficient processing of single and bulk payouts for partners and employees.

Zambia is strategically positioned for digital growth, having experienced increased internet penetration, currently at 32%. The digital payments landscape within the country is anticipated to reach USD 6.7 billion by 2025. As more individuals access the internet and businesses embrace digital solutions, there emerges a heightened demand for secure and efficient payment systems.

Flutterwave offers Zambian businesses seamless and secure payment solutions that are compliant with rigorous security standards, including PA-DSS, PCI-DSS, and ISO certifications. Such measures ensure that both enterprises and their customers are protected while utilizing the Flutterwave platform. The services provided by Flutterwave are designed to enhance payment completion rates, improve operational efficiency, and contribute to business and revenue growth.

Flutterwave’s payment gateway enables businesses to accept both local and international payments through various methods, such as cards and mobile money. Additionally, users are empowered to execute payments to multiple recipients, including suppliers and employees, in Zambian Kwacha. The integration of Flutterwave’s API into business websites and applications allows for efficient online payment processing.

The dashboard provided by Flutterwave allows users to monitor transactions, generate reports, and collaborate with team members. Furthermore, businesses can create single or recurring payment links, facilitating rapid and secure payment collection across more than 50 countries.

In summary, Flutterwave’s recent acquisition of the Payment System license from the Bank of Zambia marks a significant advancement in its efforts to support Zambian businesses. The company’s tailored payment solutions, robust security compliance, and user-friendly integration options present an opportunity for businesses to thrive in a growing digital landscape. As Zambia’s digital payments market expands, Flutterwave stands equipped to meet the evolving needs of its clientele.

Original Source: thepaypers.com