Flutterwave, a leading payment technology company, has been granted a Payment System Operator (PSO) license by the Bank of Uganda.
Details
With the PSO license, Flutterwave will offer payment services for the disbursement of funds such as salaries and commissions, billing solutions for easy payment tracking and collection, and mobile money integration to provide convenient and accessible payment options for Ugandans.
The license will also streamline fund transfers and payment collections across different customer segments and locations in Uganda, enabling businesses to benefit from efficient, reliable and personalized payment solutions either through Flutterwave for Business or SendApp.
Because this matters
Uganda’s digital payments landscape is transforming, driven by a young and vibrant population — over 78% of its citizens are under 35 years old. This demographic presents an unprecedented opportunity to drive economic growth through enhanced financial inclusion and digital innovation.
What They Say
Commenting on the license approval, Olugbenga ‘GB’ Agboola, Founder & CEO of Flutterwavehe said, “Securing this license in Uganda is an important step towards realizing our vision of an economically connected Africa. At Flutterwave, we believe that Africa’s future lies in its ability to seamlessly connect its people, businesses and economies through technology. We are excited to contribute to this journey, empowering Ugandan businesses and individuals to fully realize the potential of digital payments and drive inclusive growth.”
Oluwabankole Falade, Chief Regulatory Officer at Flutterwaveadded: “Obtaining this license further strengthens our position as a leading provider of payment technology services in Africa. We are deeply committed to complying with all regulatory requirements and maintaining a strong relationship with the Bank of Uganda to ensure that our services remain safe, secure and beneficial to the people of Uganda.”
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