Flutterwave has obtained a Payment System license from the Bank of Zambia, facilitating its entry into the Zambian market. The fintech firm aims to provide businesses with secure and efficient payment solutions, aligning with the country’s projected USD 6.7 billion digital payments market by 2025. Flutterwave’s platform supports local and international payments, enhancing operational efficiencies for Zambian businesses.
Flutterwave, a prominent fintech solution provider, has been granted a Payment System license by the Bank of Zambia. This significant achievement permits the company to extend its payment solutions across Zambia, thereby facilitating more convenient payment acceptance for local businesses from both domestic and international clients. Flutterwave’s platform also supports single and bulk payouts to partners and employees, enhancing operational capabilities for Zambian enterprises.
In recognizing Zambia’s promising digital landscape, Flutterwave seeks to leverage the country’s ongoing digital transformation, marked by a notable internet penetration rate of 32%. The digital payments market in Zambia is projected to achieve a remarkable USD 6.7 billion by 2025. As more individuals connect online and businesses implement digital solutions, the demand for secure, efficient, and scalable payment systems will only intensify.
Flutterwave provides a host of payment solutions designed to assist businesses as they enter the Zambian market. With adherence to industry security standards, including PA-DSS, PCI-DSS, and certifications in ISO 27001 & 22301, businesses can rely on Flutterwave for secure transactions. The company’s tools aim to enhance payment completion rates while improving operational efficiencies, ultimately contributing to business growth and increased revenue.
The platform features a payment gateway that allows users to accept both local and international payments via various methods, such as cards and mobile money. Additionally, businesses can disburse payments to multiple recipients, including suppliers and employees, in Zambian Kwacha. By integrating Flutterwave’s API into their websites and applications, users can facilitate online payments through diverse means, including checkout and direct charge functionalities.
The Flutterwave dashboard offers robust account management, enabling users to monitor transactions, generate reports, and collaborate with team members. Moreover, users may create single and recurring payment links, facilitating quick and secure payments across more than 50 countries. This comprehensive functionality positions Flutterwave as a leading force in enhancing the ease of doing business in Zambia.
In summary, Flutterwave’s acquisition of a Payment System license from the Bank of Zambia marks a pivotal step in expanding its payment solutions within the country. With a vision to capitalize on Zambia’s growing digital economy, Flutterwave aims to provide secure and efficient payment solutions that support local businesses. The company’s commitment to compliance with industry standards further ensures safety for both enterprises and their customers, paving the way for increased economic opportunities in the region.
Original Source: thepaypers.com
