Flutterwave has received a Payment System license from the Bank of Zambia, allowing it to operate in Zambia and expand its payment solutions across Africa. The company aims to enhance local businesses’ ability to accept various payment methods, process payouts, and benefit from a growing digital marketplace projected to reach USD 6.7 billion by 2025. Flutterwave emphasizes security compliance and improved transaction efficiency for its users in Zambia.
Flutterwave, a fintech company, has been granted a Payment System license by the Bank of Zambia, enabling it to operate within Zambia. This strategic move allows Flutterwave to extend its payment services across Africa, making it easier for Zambian businesses to accept payments locally and internationally via preferred methods. Furthermore, companies can process both single and bulk payments to partners and employees seamlessly.
Zambia presents significant opportunities for digital growth as it experiences a shift towards digital solutions, evidenced by a 32% internet penetration rate. The local digital payments market is anticipated to reach USD 6.7 billion by 2025, indicating increasing demand for secure and efficient payment systems as more users come online. Flutterwave aims to capitalize on this trend by offering robust payment solutions.
Flutterwave is committed to maintaining high-security standards in its operations. The company adheres to critical industry security benchmarks such as PA-DSS & PCI-DSS, as well as ISO 27001 and 22301 certifications. This ensures that the platform is secure for businesses and customers alike, providing peace of mind while conducting transactions online, ultimately fostering trust and reliability in the digital payment ecosystem.
The company provides a versatile payment gateway that facilitates local and international transactions using various payment options, including cards and mobile money. Additionally, businesses have the capability to disburse payments in Zambian Kwacha to multiple recipients, such as suppliers and employees, expanding operational efficiency in payment processes. Flutterwave’s API can be integrated into websites and applications for streamlined online payment handling.
Flutterwave’s dashboard offers comprehensive control for users, allowing transaction monitoring, report generation, and collaborator management. Users can also create unique payment links, enabling quick and secure transactions across over 50 countries. This functionality enhances the overall payment experience for businesses operating in Zambia and beyond.
Flutterwave’s acquisition of a Payment System license from the Bank of Zambia marks a pivotal expansion of its payment services in Africa. By enabling simpler, safe, and efficient payment solutions for Zambian businesses, the company leverages the growing digital economy. With a focus on security compliance and operational efficiency, Flutterwave aims to drive sustainable growth and facilitate smoother transactions in the Zambian digital payments market.
Original Source: thepaypers.com
