Lagos and San Francisco-based fintech startup ‘Flutterwave’, has partnered with Alibaba – a Chinese leading e-commerce company to boost digital payments between China and Africa.
The Flutterwave/AliPay connection is probably the biggest thing to ever happen to African tech if we understand the full implication.
China is in play guys. Over One BILLION users are in play. I have always said, don’t build for Africa…..alone! 😂
— Osaretin Victor Asemota (@asemota) July 29, 2019
See also: GreenTec Capital partners Senegalese Government to Fund Entrepreneurs with up to €500,000
https://twitter.com/Honcho_Honips/status/1156117219899858944
Flutterwave is a Nigerian based B2B payments platform that grants African companies access to send out payments to other firms across the globe. Alibaba launched Alipay in 2013. The platform is a digital wallet with over 1 billion active users.
Alibaba will leverage this partnership with Flutterwave to capture payments activities between Africa and China. A market whose volume has been estimated at $200 Billion. The partnership will also grant Flutterwave merchants access Alibaba’s 1 billion users.
Flutterwave in a statement said, “We’ve set out to provide the complete payment solution for Africans to thrive in the global economy. The complete payment solution would first require interconnectivity within Africa, then connectivity from Africa to the world”.
Flutterwave is famous in fostering cross-border payments across African countries like Nigeria, Kenya, South Africa, Ghana, Uganda and Rwanda. This helps bolster seamless payments amongst the companies resident in these countries.
More on TechGist Africa:
- Farmcrowdy Group Unveils Impact-Driven Project Platform Crowdyvest
- Germany Africa Business Forum set to invest in African Energy Startups
- Ernest Ndukwe to replaces Pascal Dozie as MTN Nigeria Chairman
- B2B Agri-Tech Startup Taimba secures $100,00 Funding from Gray Matters Capital
- India’s PayMate secures $25 Million to Expand across India and Africa
