Flutterwave enters mobile money partnership with MTN

Flutterwave, a payments technology company, has announced a mobile money partnership with MTN Group, Africa’s largest telecommunications provider.

The company said in a statement on Thursday that the partnership would allow businesses integrating Flutterwave in Cameroon, Côte d’Ivoire, Rwanda, Uganda and Zambia to receive payments via MTN Mobile Money. 

MTN MoMo is a fintech platform providing consumers and businesses with an electronic wallet, enabling electronic transfers and payments as well as access to digital and financial services.

At the end of June 2021, MTN MoMo had 48.9 million active users and 581,514 merchants, enabling businesses to accept and make payments within the mobile money ecosystem, according to the statement.

It said this new partnership would enable Flutterwave to offer MTN Mobile Money as a payment method to its business customers.

The Founder and Chief Executive Officer of Flutterwave, Olugbenga Agboola,said, “Africa has one of the highest growth rates for mobile money adoption and e-commerce in the world. It makes sense that we help provide a seamless payment method to support and ensure African businesses reap the full benefits of the e-commerce boom in the region.

“Our goal has always been to grow a new wave of prosperity in Africa by creating more avenues for businesses in Africa to accept payments. With this partnership, we can achieve this while creating endless possibilities for our customers.”

MTN Group Chief Digital and Fintech Officer, Serigne Dioum, was quoted as saying, “As we progress on our journey to becoming the largest fintech platform in Africa, we will empower millions of businesses to embrace e-commerce in our markets to accept digital payments from MoMo consumers.

“We believe this is an enabler to accelerating digitized payments in Africa. Building strong ecosystems through partnerships is central to our platform strategy and we will continue to invest in expanding the reach of our platform to consumers and businesses in Africa.” 

The statement said the new partnership would further expand on Flutterwave’s previous collaboration with MTN beyond Uganda and Rwanda, with the potential of deepening adoption of digital payments and e-commerce in Africa.

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