Egypt has granted Payment Services Provider and Payments Facilitator licences to Flutterwave.
Flutterwave is now certified as one of the few payment service providers in Egypt with both local and global settlement capabilities.
Africa’s leading payments technology company, Flutterwave announced that it has received its licences to act as an official payment service provider in Egypt.
These licenses will allow the company to collect payments on behalf of its customers and settle payments locally and globally.
This move would expand Flutterwave’s reach into North Africa.
These licences will also allow Flutterwave to deploy Flutterwave to make payments for businesses easier using store, payment links, invoices and checkout in Egypt.
Flutterwave enables cross-border transactions in different currencies for global companies, including Uber. Also, the new licences will help the company support international businesses entering the Egyptian market or growing their operations in the country.
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The Regional Manager, North Africa in Expansion & Partnerships, Egypt, Aalaa Gamal, expressed his excitement about the development.
“We’re excited to receive the payments services 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, 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,” he said.
Connecting Africa Through Payment
Commenting on the news also, the CEO and Founder of Flutterwave, Olugbenga GB Agboola, said this was a step towards achieving the company’s dream of connecting Africa through payment.
“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.
This is testament to our commitment to provide first-class payment services, seamlessly connecting businesses to their customers.
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,” the CEO said.
In a recent development, Flutterwave has also made it possible for users to send money to Ethiopia via cash pickup.
