Nigerian FinTech company, Flutterwave has launched its payments solution called Barter in the East African country of Kenya. Barter is a platform for creating virtual ATM cards and users can use it to generate virtual cards to hold currencies like Dollar, Euro or Pound. Also, Virtual cards can be created for different vendors, be it Mastercard, Visa or Verve.
For payments, the platform uses the Flutterwave API to process international payments in Africa. Barter leverages Flutterwave’s virtual card API and platform to allow users to create an unlimited number of virtual dollar cards. Requiring only a working email and phone number, funds for Barter cards come from your local bank account. Barter virtual cards can facilitate one-time transactions or continuous transactions.
Barter’s entry into Kenya is part of Flutterwave’s plan to expand across African countries to provide its innovative product offerings.
This is a good news for Africa and would go a long way to aid commerce on the continent. For one thing, it frees Africans from the transaction restrictions placed on them by foreign companies such as PayPal.