Flutterwave, Africa’s leading payments technology company, today announces a new partnership with PayPal to enable customers using PayPal globally to pay African merchants in the continent through Flutterwave’s platform.
According to a blogpost by Flutterwave, the partnership will connect African businesses with more than 377 million PayPal account holders globally. And will be instrumental in supporting SMEs and freelancers to overcome the many challenges presented by the highly fragmented and complex payment and banking infrastructure.
As we build the largest payment infrastructure in Africa @theflutterwave , we also know that Africa does not exist in isolation. We need to connect Africa to the world when it comes to payments and we took a closer step to that today pic.twitter.com/EWnWBv3RHM— GB 🦋 (@TechProd_Arch) March 16, 2021
PayPal and Flutterwave collaboration eliminates significant barriers that have previously hindered African consumers and businesses from the untapped potential of cross-border ecommerce.
Just last year 2020, PayPal‘s 377 million+ users made transactions that saw PayPal end the year with a $936 billion 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.
Flutterwave has transformed the payments space in Africa by offering flexible, quick and affordable payment services to individuals and businesses across the continent. As of today, African businesses have even more access to sell to global customers using PayPal’s secure platform to receive and make payments online. Cross-border ecommerce continues to provide significant growth opportunities for Africa’s economy.
This partnership solidifies Flutterwave’s position as the global African payments partner of choice for multinationals looking to enter new markets, further reassuring new and existing merchants and investors of Flutterwave’s global capabilities, secured platform and high standards of safety.
Speaking on the announcement, Olugbenga ‘GB’ Agboola, Founder and Chief Executive Officer of Flutterwave, said: “We are excited to bring PayPal’s fully integrated services to businesses across Africa. The collaboration reinforces our vision of creating a seamless digital payments system for Africa’s business communities that can now transact with international consumers.
“By working with PayPal, we can further strengthen our commitment to our customers and service users as we will be enabling them to transact and expand their business operations to reach new markets. PayPal’s global reach is unrivalled and collaborating with them allows our customers to explore new markets where PayPal is embedded.
Flutterwave merchants in Kenya, South Africa, Egypt, Morocco, Mauritius, Malawi, Mozambique & Senegal are able to easily accept payments from PayPal users worldwide.
Since inception, Flutterwave has processed over 140 million transactions worth over USD $9 billion worldwide and continues to expand its footprint to ensure consumers and merchants receive the best-in-class digital payment service. This collaboration further underscores its commitment to ensuring merchants have vast opportunities to deliver services and conveniently transact through its platform.