Flutterwave, an African payment solutions company, has announced the addition of the eNaira as a payment option for merchants, a move aimed at accelerating the adoption of digital currency.
Thank you for reading this post, don't forget to subscribe!
The new development is expected to complement other existing payment methods on Flutterwave like cards, bank transfers, and Barter by Flutterwave among others. Flutterwave’s users can either scan QR codes or generate one-time tokens using the app to complete transactions on its platform, and merchants can enable the eNaira payment option on their dashboard for their customers’ use.
According to Olugbenga GB Agboola, founder and CEO of Flutterwave, the development would grant various payment options to merchants and their customers to ensure everyone has access to payment solutions that work for them. “Flutterwave will continue to strive to be at the forefront of innovation as we develop and implement new solutions to facilitate global payments for our customers,” he stated.
Azeez Oluwafemi, Senior Vice President, Products and Design, also emphasised that Flutterwave is the payment solution platform that allows individuals and businesses with various payment needs and requirements to do business seamlessly.
“It is a key update to Flutterwave, and we continue to look out for opportunities like this to improve our offering to our range of customers,” he explained.
This partnership with CBN according to Flutterwave will benefit the over 1 million merchants now accepting e-Naira payments from their customers, and there is an assurance of rapid growth as the company continues to innovate and expand. This is a bright prospect, and it may not be wrong to say the CBN is still testing the waters with Flutterwave. Chances are high that the CBN will extend its partnership with Flutterwave to other fintech giants in the country as time goes by.
This could happen because fintech operations in the country have intensified in recent times and they are prominent for democratizing finance and bridging the wide financial inclusion gap in the country, which is one of the integral essences of the eNaira itself. It will not be surprising to see the CBN leverage the swarming number of fintechs, their infrastructure and customer base to expedite the adoption of e-Naira in the country.
About The Author
Tony Chimdiuto