Nigerian payments infrastructure company, Flutterwave has partnered with Alipay, the payments arm of e-commerce platform Alibaba, to connect African businesses with China. The partnership allows Flutterwave handle payments between companies/businesses in Africa and the over 1 billion Alipay users abroad.
This is a huge deal for Nigerian/African businesses as there is a big trade relationship between Africa and China which is worth about $200 billion.
With over 1 billion global active users, AliPay is a payment giant, surpassing Paypal in payments volume. This is thanks to its stronghold in China, the world’s most populous country with about 1.4 billion.
And now with this partnership, Flutterwave will henceforth handle all AliPay payments between the digital wallet and merchants across Africa. This will make it a lot easier for African merchants to accept Chinese customer payments.
“This means that all our merchants can accept or install Alipay as a payment type to accept payments from its billion users.”Olugbenga Agboola, CEO, Flutterwave.
Flutterwave continues global expansion
With its eyes set on connecting African business with the world, this is the latest stride by the company. And it follows a partnership between Flutterwave and Visa earlier this year that launched a payment product for Africa, called GetBarter.
In addition to providing African merchants an easy link to trade with China counterparts, the partnership also offers Flutterwave access to more African countries.
Currently operating in countries like Nigeria, Uganda, Tanzania, Kenya, Ghana, and now United Kingdom and Zambia, the new partnership could also see it expand its services into other Africa countries where there’s a need for this solution. This will see it increase the number of merchants on its platform, which is currently 60,000 and in turn process more in 2019.
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