These are good times for African Tech firms as yet another Fintech with Nigerian roots Flutterwave outlined in a statement steps in adding/enabling Paypal as a payment option for businesses registered on the flutter wave Platform.
Flutterwave which has over the past years of existence, continually offered a top notch payment gateway system has once again made moves to strengthening her name in the sands of time.
This bold step is expected to solve the problems that goes along with using the Paypal in Nigeria and other African nations. It can be likened to bridging the gap between Africa and the financial sectors of the rest for world.
The Good news
In the past, Africa's online business space slacked in having appropriate payment options to fulfill international transactions beyond Africa or local Nations thus the continent could not tap from the opportunities of e-commerce afforded her by digitization.
This new partnership between Paypal and flutter wave eliminates that as people can leverage on the over 350 million Paypal users and with the prospects of new customers within Africa who had not previously been captured via Paypal usage
How does African e-commerce benefit?
Obviously, this will bring about increased revenue for African Businesses as it will enable a reach to customers never reached before as this partnership guarantees cross-continental e-commerce transaction for African merchants and they will be no complexities involved as Paypal is a global player in payment solutions and is used and trusted in all parts of the world.
The requirement to integrate PayPal as a payment option
The only requirement is that, you're an enlisted business on Flutterwave. In the event that you're not to register your business and you will find instructions on how to finish your registration.
Thereafter you visit the dashboard and activate Paypal as a payment gateway and select it from the payment options there. Paypal will now appear as an option for customers to use when checkout or placing their orders.
Note that Flutterwave charges at the rate of 1.4% of the total cost + ?50 Naira Only per transaction. More information on how to register a business and set up Paypal as a payment option via Flutterwave can be found here.
Flutterwave was founded in 2016 by a team of ex-bankers, entrepreneurs, and engineers with a vision to make it easier for Africans to build global businesses that can make and accept any payment, anywhere from across Africa and around the world.
PayPal creates better ways to manage and move money and offers choice and flexibility when sending payments, paying or getting paid via a combination of technological innovation and strategic partnerships. Available in more than 200 markets around the world.