African Payment Solutions
Flutterwave Partners with Paypal to Transform eCommerce Payments for African Merchants
PayPal has joined forces with Flutterwave to allow PayPal users around the world to pay African merchants through Flutterwave’s platform. This collaboration is expected to be ‘instrumental’ in supporting SMEs and freelancers to overcome the many challenges presented by the highly fragmented and complex payment and banking infrastructure, as well as connecting them with more than 377 million PayPal account holders globally. Traditionally, Africa’s eCommerce ecosystem has lacked suitable payment solutions to meet the demand for seamless transactions worldwide, further constraining its contributions to the global digital economy. However, this collaboration hopes to eliminate significant barriers that have previously hindered African consumers and businesses from the untapped potential of cro...
How Digital Payments could Foster African Development
The World Bank has estimated that Africa could potentially hold 90% of the global poor population by 2030 and has recently cut its economic growth predictions to between -2.1% and -5.1% in 2020 from the 2.4% of 2019. The situation has been significantly worsened by the global pandemic, as the continent hits its first recession in 25 years. But this is not the picture that defines a continent that has long defied expectation and prediction. In fact, a young population, a growing consumer market, and the rapid movement towards mobile inclusion and connectivity are shifting the conversation. Africa is poised on the cusp of change introduced by mobile and internet technology. Africa has undergone a remarkable journey over the past 30 years. It has not only leapfrogged legacy technolo...
