Flutterwave receives international transfers license in Malawi
By Delisha Fernandes
Flutterwave, Africa-based payments technology company, has obtained official authorisation to facilitate international remittances in Malawi. The International Money Transfer Operator (IMTO) license was granted on Thursday, October 19, and will enable the payments company to process remittances from Malawians and other Africans sending money back home.
Through Flutterwave’s cross-border remittance solution – Send App, residents in Malawi can now access benefits that include competitive exchange rates, faster money transfer, user-friendly mobile and web platforms, and access to transact in 150 currencies, 24/7 customer support, and a strict adherence to the highest security and compliance standards, which protects them from fraud, scams, and other financial risks associated with international money transfers.
Olugbenga ‘GB’ Agboola, Founder and CEO, Flutterwave, said, “At Flutterwave, we understand the critical role we play in enabling individuals and businesses to navigate the global financial terrain seamlessly. This expansion spotlights our dedication to customer satisfaction, as we bring the world closer to their fingertips. We are grateful to the Reserve Bank of Malawi for placing their trust in us. We look forward to this remarkable journey, and we remain committed to delivering the best possible financial services to the people of Malawi.”
The international remittance license supports Flutterwave’s dedication to upholding regulatory compliance, transparency, and ensuring customer satisfaction. Moreover, it mirrors the Reserve Bank of Malawi’s strong commitment to fostering financial inclusion and propelling the digital economy forward. Consequently, customers can anticipate a seamless and reliable experience when utilizing Flutterwave’s services.
IBSi Daily News Analysis
November 28, 2023
Cross Border Payments
A $4 trillion Islamic banking market to be driven by FinTech, study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage