Nigerian Fintech Unicorn’s Next Move

Flutterwave wants to add more e-currencies as payment options for merchants after adopting Nigeria’s eNaira in September according to Chief Financial Officer Oneal Bhambani. New payment options could be additional national e-currencies or other crypto currencies, subject to national regulations, Bhambani says. “The future is very bright for the eNaira. If it helps merchants to get more revenue then we will endeavour to integrate them.” “We follow our customers,” Bhambani says. “As more digital currencies come about, our mission is to make the process seamless for merchants.” The potential for further digital penetration in Africa far exceeds that in the rest of the world, he added. Representatives from Flutterwave stated that with their new adoption of eNaira as a payment method on Flutterwave, they’re enabling various payment methods to merchants and their customers to ensure everyone has access to payment solutions that work for them. The company earlier announced the issue of its Switching and Processing license from the Central Bank of Nigeria (CBN) to offer transaction switching and card processing services to customers. Other services include agency banking and payment gateway services.

SOURCE: THE AFRICA REPORT