Flutterwave secures payments licenses in Egypt for North Africa expansion
Nigerian payments company Flutterwave announced that it has received its Payment Services Provider and Payments Facilitator licenses in Egypt.
This will enable Flutterwave to collect payments on behalf of its customers and settle payments locally and globally.
The company will now be able to deploy Flutterwave for Business suite of products including store, payment links, invoices, checkout in Egypt.
Flutterwave facilitates cross-border transactions in multiple currencies for global companies, including Uber, and the new licenses will help the company support international businesses entering the Egyptian market or growing their operations in the country.
Aalaa Gamal, Regional Manager, North Africa in Expansion and Partnerships for Egypt said,
“The licenses will enable us to be the go-to payment processor and digital transformation partner for global settlements in Egypt, which enables our customers to expand quickly within or outside of the country.
This, for us, is the beginning of other strategic wins in the North Africa and Middle East regions.”
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Olugbenga GB Agboola, CEO and Founder of Flutterwave said,
“We are proud to have been granted the Payment Services Provider and Payment Facilitator licenses in Egypt, which forms part of our international expansion strategy.
Our vision is to connect all parts of Africa through payments and connect Africa to the world. This way, it is easier for multinationals expanding into Africa to do so. This achievement is yet another step in that direction. ”
Source: Fintech News Africa
