FlutterwaveAfrica’s leading payments technology company, announced the acquisition of money transfer licenses for 13 US states to enable faster, more affordable and secure money transfers from the United States to Africa and vice versa.
Details
Flutterwave’s new areas include; Arizona, Arkansas, Maryland, Michigan, Delaware, Georgia, Maine, Mississippi, Missouri, New Hampshire, Iowa, North Dakota, and South Dakota.
The 13 new licenses in addition to its partnership with another licensed financial institution allow Flutterwave to serve customers in 29 US states
Record
Money transmitter licenses are issued by state regulators to allow financial technology companies to engage in money transmission.
These licenses enable Flutterwave’s solutions such as Submit applicationwhich facilitates the transfer of money between the US and Africa and businesses using Flutterwave for last-mile payments worldwide.
What they say
“Obtaining these licenses expands our regulatory footprint, demonstrates our ability to provide services safely and robustly, and enhances the confidence of regulators, partners and customers;” he said Stephen Cheng, Executive Vice President, Global Expansion and Partnerships at Flutterwave. “We are growing and committed to serving customer needs in as many geographies as possible with a significant African footprint.”
“These licenses reflect our commitment to work with regulators in various markets, following their requirements and ensuring the safety of client funds. We will continue to create an environment of safety and trustCheng added.
“Our mission is to connect Africa to the world and the world to Africa by simplifying payments for endless possibilities,” he said Olugbenga Agboola, Founder and CEO of Flutterwave. “These licenses bring us one step closer to our vision and we will continue to expand this feat to ensure coverage for all States in the US and beyond.”
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