Expansion into Francophone Africa
With approval from Cameroon’s National Payment Systems Department, Flutterwave is poised to offer its comprehensive suite of digital payment solutions to businesses and individuals across Central Africa. This license will aid in enhancing Flutterwave’s presence in Francophone regions.
Flutterwave’s new authorization aims to increase the company’s footprint in Cameroon. Leveraging a partnership with telecoms firm MTN, merchants in Cameroon can now accept mobile money payments via MTN MoMo.
Digital Payment Landscape in Cameroon
Cameroon boasts a promising digital payment market. According to projections, the country’s digital payment sector is expected to reach USD 4.64 billion by 2025, with an annual growth rate of 20.94%, anticipated to peak at approximately USD 12 billion by 2030.
As one of the fintech companies approved for operation in Cameroon, Flutterwave assists businesses (SMEs, service providers, or large corporations) in accepting payments, making payouts, and managing financial operations securely. The digital payment license obtained through Ecobank ensures that all services offered by Flutterwave comply with regional regulations.
Payment Offerings for Businesses in Cameroon
Businesses utilizing Flutterwave gain access to the following features:
- Afford businesses the ability to accept payments via mobile money, cards, and bank transfers;
- Create payment links;
- Send digital invoices;
- Collect payments in local currencies;
- Improve settlement management.
Growing Regulatory Presence Across Africa
Flutterwave has acquired significant regulatory licenses, including a Payment System license from the Bank of Zambia, a Payment Service Provider license in Ghana, and a Payment Systems Operation license from the Bank of Uganda. The company currently supports payments in 34 African countries and serves as payment infrastructure for businesses of all sizes.
