Africa

Huge Breakthrough As Flutterwave Partners With Global Fintech Giant PayPal

Published

4 years ago

Mar 16, 2021.

Olakunle Fayiga

Flutterwave partnership with PayPal will boost eCommerce massively in Africa
It will connect more than 300 million PayPal users to Flutterwave’s platform
It is expected to increase Africa’s share of global trade.

Leading African payment technology company Flutterwave, has announced a partnership with global payment giant PayPal.

EKO HOT BLOG gathered that the move will make it possible for PayPal customers globally to pay African merchants through Flutterwave’s platform. The collaboration will be vital in supporting SMEs to overcome hindrances presented by the fragmented payment and banking infrastructure, as well as connecting them with more than 377 million PayPal account holders globally.

According to Statista, eCommerce in Africa generated US$16.5 billion in 2017 and is expected to reach US$29 billion by 2022. This will provide enormous opportunities for SMEs worldwide which in turn subsequently increases Africa’s share of global trade.

Founder and Chief Executive Officer of Flutterwave, Olugbenga Agboola highlighted how the new collaboration will beneficial to both parties

“We are excited to bring PayPal’s fully integrated services to businesses across Africa,” he said.

“The collaboration reinforces our vision of creating a seamless digital payments system for Africa’s business communities that can now transact with international consumers.

“By working with PayPal, we can further strengthen our commitment to our customers and service users as we will be enabling them to transact and expand their business operations to reach new markets.

“PayPal’s global reach is unrivalled and collaborating with them allows our customers to explore new markets where PayPal is embedded.

“Through our collaboration with PayPal, we are also bringing together two trusted global payment brands to provide millions of consumers and businesses a gateway to new opportunities.”

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