Flutterwave Expands Its Payment Solutions with License from Bank of Zambia

Flutterwave has obtained a Payment System license from the Bank of Zambia, allowing it to provide payment solutions in Zambia. This expansion supports local businesses in accepting payments securely from both local and international customers. With a projected digital payments market growth of USD 6.7 billion by 2025, Flutterwave aims to enhance operational efficiency and compliance for businesses in Zambia.

Flutterwave, a prominent fintech provider, has successfully acquired a Payment System license from the Bank of Zambia. This pivotal achievement enables Flutterwave to extend its payment solutions within Zambia, enhancing convenience for businesses to accept payments from local and international clients using their desired payment methods. Furthermore, the platform facilitates both single and bulk payments for partners and employees, streamlining financial transactions across various sectors.

Zambia presents significant opportunities for digital transformation as it witnesses a rising trend in internet access, currently at 32% penetration. The country’s digital payments market is projected to escalate to USD 6.7 billion by 2025, driven by businesses increasingly adopting digital tools. Such growth highlights the burgeoning demand for secure, efficient, and scalable payment solutions, which Flutterwave intends to fulfill.

Through its robust payment infrastructure, Flutterwave offers Zambian businesses secure and efficient payment options compliant with key industry security standards, including PA-DSS, PCI-DSS, and ISO certifications. This commitment to security ensures both businesses and their customers remain protected while utilizing Flutterwave’s services, ultimately fostering trust and reliability in the digital payment ecosystem.

Flutterwave’s services in Zambia encompass a versatile payment gateway that allows businesses to accept local and international payments through multiple methods, including cards and mobile money. Additionally, businesses can disburse payments seamlessly in Zambian Kwacha to various recipients such as suppliers and employees. Flutterwave also provides API integration, enabling businesses to implement payment solutions directly into their websites and applications, further enhancing user experience.

The platform’s dashboard offers functionalities for transaction monitoring, report generation, and collaboration with team members. Users can create one-time or recurring payment links, facilitating swift and secure transactions in over 50 countries. This comprehensive set of features positions Flutterwave as a vital partner for Zambian businesses aiming to flourish in a rapidly evolving digital landscape.

In summary, Flutterwave’s acquisition of a Payment System license from the Bank of Zambia marks a strategic expansion into the Zambian market. The company is poised to enhance digital payments in Zambia, providing businesses with secure, efficient, and innovative solutions to meet the growing demand. As the digital landscape continues to evolve, Flutterwave’s comprehensive services will undoubtedly facilitate business growth and operational efficiency for its clients in the region.

Original Source: thepaypers.com