Flutterwavea leading payment technology company, recently received a payment services license (Enhanced Category) from the Bank of Ghana.
Because this matters
Ghana presents an exciting market for Flutterwave’s innovative solutions. With a stable democracy, a young tech-savvy population and a high mobile internet penetration rate of 71%, Ghana is well positioned for rapid digital adoption.
For potential customers in Ghana, Flutterwave’s license translates into more seamless and secure money transfers across the country. Businesses will benefit from instant collection and payment services, automated invoicing, payment links and a checkout solution that supports multiple payment methods including cards, mobile money and bank transfers.
By The Numbers
The country’s digital payments market is projected to reach $7 billion in 2024, with an expected growth rate of 15.78%, resulting in a total value of $12.96 billion by 2028.
Digging deeper
The payment services license (Enhanced Class) allows Flutterwave to operate without the need for third-party services, streamlining payment processes for both businesses and customers.
The Enhanced Category license further empowers Flutterwave to support other licensed fintech companies in Ghana by providing essential payment services, ultimately promoting a more integrated and efficient financial ecosystem.
What they say
Commenting on the license approval, Olugbenga ‘GB’ Agboola, Founder & CEO of Flutterwave he said, βWhen we started this journey, our goal was to unite the fragmented payments infrastructure in Africa, and securing this license in Ghana brings us one step closer to achieving that mission. At Flutterwave, we are committed to using our platform to drive economic growth in the nation while providing unparalleled service to all our prospective clients in Ghana and the diaspora.β
Oluwabankole Falade, Chief Regulatory Officer at Flutterwave, he said: “We are grateful to the Bank of Ghana for their trust and support in granting this licence. This milestone underscores our commitment to regulatory compliance and providing secure, reliable payment solutions. We are excited to contribute to Ghana’s vibrant business ecosystem and support the financial inclusion of Ghanaians, both locally and globally.β
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