Flutterwave gains Payment System licence from the Bank of Zambia

Acquiring this licence allows the company to operate in Zambia, thus expanding its payment solutions across Africa. Flutterwave’s solutions aim to provide a more convenient and easier way for Zambian businesses to accept payments from their local and international customers using their preferred payment method. They can also process single and bulk payouts to their partners and employees.

Enabling businesses to expand into Zambia

Flutterwave sees Zambia as a country with potential when it comes to its digital landscape. The country is undergoing a digital transformation driven by growing internet access with 32% internet penetration.

Zambia’s digital payments market is projected to reach USD 6.7 billion by 2025. As the population gets online and businesses adopt digital tools, the need for secure, efficient, and scalable payment solutions increases.

Businesses expanding into Zambia with Flutterwave benefit from simple payment solutions that are safe and secure. The company is compliant with industry security standards such as PA-DSS & PCI-DSS and ISO 27001 & 22301 certifications, which ensures protection for businesses and their customers on the Flutterwave platform.

Flutterwave’s payment solution also aims to improve payment completion rates and operational efficiency, leading to business and revenue growth. Additionally, the platform features an optimised account manager for timely customer service, market access to Zambia’s consumer base, and tools that help with navigating the country’s regulatory environment, ensuring compliance with all laws.

Flutterwave’s payment offerings in Zambia

The company’s payment gateway enables users to receive local and international payments from their customers via multiple payment methods, including cards and mobile money. Users can also disburse payments to single and multiple recipients such as suppliers, employees, or business partners in Zambian Kwacha.

Businesses can embed Flutterwave’s API into their websites and apps to process online payments through checkout, direct charge, and plugins such as Shopify. Accounts can be controlled by monitoring transactions, creating reports, and adding collaborators in the Fluttwrwave dashboard. Users can also create single and recurring payment links to quickly and securely get paid in over 50 countries.