Flutterwave—A digital payment solution in Nigeria

Abstract

This case study analyses the Information & Communication Technology (ICT) sector of the West African country Nigeria; the growth of their internet services leading to online payment options. The rise of telecommunication companies and mobile payment options are also scrutinized here to some extent. The report discusses the overlying assumptions of weak online financial security issues that developing countries face and how payment aggregators are aiding in the process in order to achieve a smooth digital marketplace. Flutterwave, is a B2B digital payment Application Programming Interface (API) that allows processing of credit and debit for cards, other local alternative payments, such as mobile money and Automated Clearing House (ACH), across Africa. They ensure that global merchants are able to process payments like a local African company. The case of Flutterwave is discussed in detail with their business model—customer profiles, provided services, a landscape of their competitors and the challenges faced doing business; in order to shed some light on the aspect of making Nigeria a potential destination of investment for many Multinational Corporation (MNC’s) in the future.

Keywords

Flutterwave Nigeria payment gateway cashless payment

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