ACCOMPLISH MAGAZINE APRIL 2024

More documents

Recommendations

Info

CORPORATE SUITE FLUTTERWAVE: REVOLUTIONISING PAYMENTS IN AFRICA Compiled by Harry Choms FLutterwave stands as a beacon of innovation in payment processing across Africa. Founded in 2016 by the visionary duo - Iyinoluwa Aboyeji and Olugbenga Agboola - i t has rapidly evolved into a versatile platform and API, facilitating seamless transactions ranging from credit cards to various local payment alternatives like Mobile Money, MPesa, and ACH, transcending borders within the continent and beyond. In an era where online transactions reign supreme, security remains paramount. Flutterwave acknowledges this reality, prioritising robust security measures amidst the ever-looming threat of c yber crime. Recognising the vulnerability of user data in the digital landscape, Flutterwave ensures a secure environment for conducting financial transactions, safeguarding the privacy and integrity of i nternet users globally. The challenge of cross-border transactions, particularly in developing countries like Nigeria, prompted the inception of Flutterwave. Sensing the need for a reliable payment gateway a ccessible locally and internationally, Aboyeji and Agboola embarked on a journey to r evolutionise the payment landscape. In a market previously constrained by limitations from platforms like Stripe and PayPal, Flutterwave emerged as a g ame-changer, facilitating seamless transactions within 78 | www.theaccomplishmagazine.com
CORPORATE SUITE and beyond Nigeria's borders. History of Flutterwave Flutterwave's journey epitomises resilience and growth. From its inception, the platform has witnessed exponential growth, catering to the diverse needs of businesses by offering a comprehensive suite of services. From accepting payments to facilitating payouts and managing business finances, Flutterwave provides an integrated platform that fosters global connectivity for users. Flutterwave's impact transcends borders. It processes billions of dollars worldwide and earns the trust of countless Nigerian and African businesses. Renowned digital service providers such as Nairabox, Uber, Max.ng, and Accessbet, alongside many other enterprises, rely on Flutterwave for seamless online transaction management, cementing its position as a trusted payment partner across the continent. Fulfilling Our Mission Flutterwave's mission is to build a robust payment infrastructure that bridges Africa with the global economy. Through relentless innovation and technological advancements, Flutterwave empowers businesses and banks to deliver seamless and secure customer payment experiences, fostering economic inclusivity and growth. Milestones Since its inception, Flutterwave has achieved remarkable milestones, processing close to $2 billion in payments and facilitating 25 million transactions across 33 African countries. Its s uccess has garnered significant i nvestments from esteemed fintech investors, solidifying its position as Africa's leading company in the payments platforms. Flutterwave’s Features and Products Flutterwave offers many features designed to empower businesses and foster growth: Features: 1. Payment Tool: Seamlessly receive payments from anywhere in the world. Conduct transfers, both single and bulk, t o various accounts. Accept payments i n over 150 different c urrencies, enhancing global accessibility. 2. E-commerce Store and Tools: Create a free online store to e nhance o nline visibility. Generate professional i nvoices and payment links, facilitating smoother t ransactions. 3. FaaS (Fintech as a Service): Embed financial services into products, enabling customers t o perform diverse transactions. L aunch apps facilitating wallet management, b ill payments, and virtual card creation. 4. Virtual Cards: Issue physical and virtual cards with global functionality. Manage cards effortlessly from any location, enhancing convenience for users. 5. Capital: Access flexible loans to fuel business growth and expansion. 6. Registration: Incorporate and register businesses seamlessly from anywhere, s treamlining administrative processes. Flutterwave's digital marketing efforts have been commendable, yet growth opportunities remain. Leveraging visual content platforms like YouTube could significantly broaden their reach, tapping i nto the visual-centric preferences of o nline audiences. Products Flutterwave offers two major products: Barter and Rave. Let us t ake a moment to evaluate each of them. Barter: Barter is a payment platform that allows users to enjoy life more rather than worrying about spending, borrowing, and saving money. The barter team manages this process for its clients and is t rusted by over 30,000 people. Rave: Rave by Flutterwave is regarded as one of the simplest methods for making an d accepting payments from customers anywhere in the world. Their payment solution make s thing s easie r b y providin g secur e an d dependabl e tools . Whethe r yo u nee d a simpl e paymen t link or to manage payouts for hundreds of people, they have tools to help you fully integrate a globa l payment s platform. Who is Flutterwave for? For Payment Solution Developers and More Flutterwave caters to those who are involved in creating payment solutions for others. This includes entities like PayStack, which utilises Flutterwave's services. Individuals or companies developing solutions for merchants and clients can also leverage Flutterwave's offerings. Global Payment Solutions The Flutterwave platform facilitates transactions in over 156 countries worldwide. It seamlessly processes payments through well-known cards such as Verve, Visa, and MasterCard, thus catering to local and international transactions. Signing up with Flutterwave is free, with a nominal fee structure of 1.4% + ₦50 for local card transactions and 3.5% + $1 for international transactions. Beyond Payment Gateways Besides its primary payment gateway function, Flutterwave operates a versatile fintech application called Barter. This app serves as a valuable tool for social e-commerce transactions. While the potential launch of WhatsApp's digital payment service could impact Barter's e-commerce transactions, Flutterwave remains focused on other lucrative areas, s uch as the mobile money market and crossborder payment solutions, ensuring a steady influx of users. Notably, transactions through GetBarter incur a minimal fee of approximately 40 naira or 11 cents each. Pros and Cons of Using Flutterwave Pros: • Aggregates payment services from over 68 gateways; enhancing convenience. • Operational in over 30 African countries, facilitating seamless transactions. • Offers global services, extending its reach beyond African borders. Cons: • Limited service availability in some African countries. • A relatively new entrant in the payment processing industry. www.theaccomplishmagazine.com | 79
Page 1 and 2:
M A G A Z I N E APRIL 2024 FOOD CRI
Page 3 and 4:
Niger Amid Ramadan...& other storie
Page 5 and 6:
POLITICS •Senator Abdul Ningi •
Page 7 and 8:
COVER ) www.theaccomplishmagazine.c
Page 9 and 10:
COVER TD AT THE WORLD BUSINESS ANGE
Page 11 and 12:
COVER TD AT THE TVCLABS HANGOUT 202
Page 13 and 14:
COVER requires an ability to collab
Page 15 and 16:
COVER TD about. Using technology fo
Page 17 and 18:
COVER TD And, you see, you got to f
Page 19 and 20:
COVER local investors, empowering t
Page 21 and 22:
COVER Economics, are the measures o
Page 23 and 24:
TD WITH SONS BEST FRIEND, WIFE AND
Page 25 and 26:
CEO INTERVIEW Dr. Peter Ogudoro: Ro
Page 27 and 28: CEO INTERVIEW Amazing-Team I do edu
Page 29 and 30: CEO INTERVIEW adapting to different
Page 31 and 32: CCOMPLISH M A G A Z I N E World’s
Page 33 and 34: FEATURE / ANALYSIS • President Bo
Page 35 and 36: FEATURE / ANALYSIS food and nutriti
Page 37 and 38: FEATURE / ANALYSIS addressing multi
Page 39 and 40: FEATURE / ANALYSIS sparked concern,
Page 41 and 42: FEATURE / ANALYSIS administration m
Page 43 and 44: FEATURE / ANALYSIS Accomplish Magaz
Page 45 and 46: FEATURE / ANALYSIS sectional, econo
Page 47 and 48: FEATURE / ANALYSIS The Essence of W
Page 49 and 50: FEATURE / ANALYSIS imposes restrict
Page 51 and 52: FEATURE / ANALYSIS will shoot it do
Page 53 and 54: GL BAL InfoDIGEST projects on the s
Page 55 and 56: GL BAL InfoDIGEST be a secret enemy
Page 57 and 58: GRAND DESIGN / ARCHITECTURE • Des
Page 59 and 60: REALTOR’S AVENUE 1. Finding the r
Page 61 and 62: entered their consciousness through
Page 63 and 64: THE INCUBATOR SERIES Two explanatio
Page 65 and 66: to leave power, although he had rai
Page 67 and 68: S ROUND UP ENTREPRENEUR is currentl
Page 69 and 70: Ai TODAY & TOMORROW every business
Page 71 and 72: ALTERNATIVE MEDICINE an erect, tuft
Page 73 and 74: ACCOMPLISH HEALTH Dr. Richard Akinl
Page 75 and 76: LIFESTYLE • Horse Sculptures and
Page 77: Travel / Escape wine which should b
show all

ACCOMPLISH MAGAZINE APRIL 2024

Create successful ePaper yourself

Delete template?

Save as template?