Nigeria’s Flutterwave, in partnership with Visa launched GetBarter, a platform that will help facilitate smooth and seamless transactions within Africa — both in the country and across borders. GetBarter was built to serve both personal and small merchants in Africa. The platform affords Visa Card Holder the ability to send and receive money locally and internationally. Also, users who do not own Visa Cards can create a virtual equivalent to process their transactions.
Flutterwave, which is one of the few Fintech Startups in Africa to have scaled uses Rave, its product to create an efficient transactional means for consumers and traders. When discussing the target audience for GetBarter, Flutterwave CEO, Olugbenga Agboola was quoted to have said “Rave is B2B, this is more B2B2C since we’re reaching the consumers of our customers,”.
The GetBarter platform creates and connects clients on numerous platforms as it can also link to Kenya’s mobile money M-PESA for users to make payments as they shop online. “The target market is pretty much everyone who has a payment need in Africa. That includes the entire customer base of M-Pesa, the entire bank customer base in Nigeria, mobile money and bank customers in Ghana—pretty much the entire continent,” the CEO further said.
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It is reported that Flutterwave and Visa will channel their GetBarter efforts into the mobile money and bank client user base in Kenya Ghana and South Africa, after which they would expand across the continent.
“In phase one we’ll pursue those who are banked. In phase-two we’ll continue toward those who are unbanked who will be able to use agents to work with GetBarter,” Agboola said.
They will generate money from GetBarter through transactional fees. According to Agboola, in Nigeria, they charge the equivalent of 11cents (40naira) on transactions.
The App is now available on App Store and Google Play Store.
