Mobile Payments

Flutterwave Teams With Alipay To Enable China-Africa Transactions

Alipay To Add Beauty Filters To Facial Recognition Kiosks in China

FinTech startup Flutterwave is teaming up with Alipay to offer digital payments between Alipay and African merchants.

Founded in Nigeria, Flutterwave is a a payments API that makes it easier for banks and businesses to process payments across Africa.

“We’ve managed to connect African countries…to each other, so it was about time we connected Africa to the world. We started with the U.S. … but you can’t connect Africa to the world without China,” the company said in a press release.

The integration with Alipay gives Flutterwave’s more than 60,000 merchants access to over 1 billion Alipay users. Flutterwave will earn revenue by charging its usual 2.8 percent on international transactions.

“This means that all our merchants can accept or install Alipay as a payment type to accept payments from its billion users,” Flutterwave CEO Olugbenga Agboola told reporters. “There’s a lot of trade between Africa and China, and this integration makes it easier for African merchants to accept Chinese customer payments.”

The partnership is the result of Agboola’s acceptance in Alibaba’s Africa eFounders Fellowship.

“Because of that I was in China to do meetings with Jack Ma, and the only ask I had from that trip is ‘I want to be the Africa payment infrastructure that plugs directly into Alipay,’ ” Agboola explained.

Last year Flutterwave inked a deal with Flywire, a provider of global payment and receivables solutions for education, healthcare, and business to make it easier for banks and businesses to process payments across Africa.

“Nigeria can be a very complex foreign exchange environment,” Mike Massaro, CEO at Flywire, said at the time. “Together with Flutterwave, we’re removing a lot of that complexity and providing a more seamless payment experience for international students, patients, and businesses. Nigerians will now have the convenience of being able to make digital, cross-border payments in their local currency, through eBank transfers, credit/debit cards, and mobile payments. Our partnership will also streamline the reconciliation of these payments on the receiving end for schools, hospitals and businesses.”

——————————

NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

TRENDING RIGHT NOW