This new partnership will allow Flutterwave to supply MTN Cell Cash as a cost technique to its enterprise prospects.
Companies in Cameroon, Cote d’Ivoire, Rwanda, Uganda and Zambia will have the ability to obtain funds through MTN MoMo by way of Flutterwave.
MTN Cell Cash is a safe digital service that permits MTN Cell Cash pockets holders to retailer funds, ship and obtain cash, make funds and do plenty of different transactions merely utilizing their cell phone. On the finish of Q2 of 2021, MTN MoMo had 48.9 million lively customers and 581,514 retailers.
Lately, Africa has witnessed an explosion in cell penetration with the rise in smartphone adoption. In line with the GSMA, this yr Africa will hit the half a billion mark of distinctive cell subscribers and the continent will attain 50% subscriber penetration by 2025.
In line with a GSMA report, Sub-Saharan Africa alone is answerable for greater than 45% of the world’s cell cash accounts with the variety of account holders exceeding half a billion by 2020. By way of this partnership, MTN and Flutterwave will positively contribute to the fast penetration of cell cash utilization in Africa thereby bettering native economies and livelihoods in addition to create alternatives for people and companies throughout the continent.
Olugbenga “GB” Agboola, Founder and CEO of Flutterwave, stated: “Africa has one of many highest progress charges for cell cash adoption and e-commerce on the earth. It is smart that we assist present a seamless cost technique to assist and guarantee African companies reap the complete advantages of the e-commerce growth within the area. Our objective has all the time been to develop a brand new wave of prosperity in Africa by creating extra avenues for companies in Africa to simply accept funds. With this partnership, we are able to obtain this whereas creating limitless potentialities for our prospects.”
Serigne Dioum, MTN Group Chief Digital and Fintech Officer stated: “As we progress on our journey to turning into the most important fintech platform in Africa, we are going to empower tens of millions of companies to embrace e-commerce in our markets to simply accept digital funds from MoMo customers. We consider that is an enabler to accelerating digitized funds in Africa. Constructing sturdy ecosystems by way of partnerships is central to our platform technique and we are going to proceed to put money into increasing the attain of our platform to customers and companies in Africa.”
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