Flutterwave expands across North Africa with new payment licenses in Egypt
By Edlyn Cardoza
Flutterwave, one of Africa’s leading payments technology companies, announced that it has been licensed as a Payment Service Provider and Payment Facilitator in Egypt.
The licenses will enable Flutterwave to act as the official payment service provider in the country, collect payments on behalf of its customers and settle payments locally and globally. These licenses will allow Flutterwave to deploy the Flutterwave for Business suite of products, including store, payment links, invoices and cashier, in Egypt.
“We are proud to have obtained the Payment Service Provider and Payment Facilitator licenses in Egypt, which is part of our international expansion strategy. This demonstrates our commitment to providing world-class payment services, seamlessly connecting businesses with their customers,” said Olugbenga GB Agboola, CEO and Founder of Flutterwave. “Our vision is to connect all parts of Africa through payments and connect Africa to the world. In this way, multinationals expanding across Africa find it easier to do so. This achievement is another step in that direction.”
Thanks to these licenses, Flutterwave has become one of the few payment service providers in Egypt with local and global settlement capacity.
Flutterwave facilitates cross border transactions in multiple currencies for global businesses, including Uber. The new licenses will help the company support international companies entering the Egyptian market or increasing their operations in the country. Flutterwave will also be in a strong position to enable Egypt-based companies to expand internationally and create new jobs in the country through the empowerment of local businesses.
Aalaa Gamal, Regional Director, North Africa Expansion and Partnerships, Egypt, said, “We are delighted to receive the payment service provider and facilitator licenses in Egypt. The licenses will enable us to be the go-to payment processor and digital transformation partner for global settlements in Egypt, enabling our customers to rapidly expand inside or outside the country. For us, this is the beginning of other strategic victories in the North Africa and Middle East regions.”
As part of Flutterwave’s expansion initiatives, they have also made it possible for users to send money to Ethiopia via cash pickup. Ethiopians in the diaspora can send money home and have recipients pick up the cash at Dashen bank branches, Amole agents and Ethiopian postal service offices.
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