Flutterwave secures 13 money transmission licences in the US

Friday 8 December 2023 08:51 CET | News

Flutterwave has secured 13 new money transmission licences in the US in order to optimise the process of transferring funds between Africa and the US for its customers. 

Following this announcement, Flutterwave will focus on providing customers and clients with a faster, more secure, and more affordable transfer of money from the US to Africa, and back. Included in the list of states are Arizona, Arkansas, Maryland, Michigan, Delaware, Georgia, Maine, Mississippi, Missouri, New Hampshire, Iowa, North Dakota, and South Dakota. The money transfer licences were issued by state regulators in order to allow the financial technology company to engage in the process of money transmission. 

In addition, these licences are expected to allow Flutterwave’s solutions (such as the Send App remittance tool) to facilitate money transfers between the two regions, while also providing enterprises that use Flutterwave with the possibility to access last-mile payout around the world. The company will continue to prioritise the privacy and safety of its customers, while also focusing on meeting their needs, preferences, and expectations. 


Flutterwave has secured 13 new money transmission licences in the US in order to optimise the process of transferring funds between Africa and the US for its customers.

Flutterwave’s recent partnerships and product launches

Payment technology firm that was developed in order to enable businesses and companies to expand their capabilities and offerings in a secure and efficient manner, Flutterwave announced multiple partnerships and product releases in the last couple of months, covering several different geographic areas around the world. 

In September 2023, Flutterwave announced the rollout of Swap, a digital foreign platform for Nigerian customers, in collaboration with Wema Bank and Kadavra BDC. The new service was released at a time when Nigerian-based clients and businesses were experiencing limited access to foreign currencies, which represented a significant difficulty and challenge for individuals who aimed to engage in international payments, transactions, investments, and other cross-border financial activities. In addition, these problems hampered the overall macro-economic growth and the personal financial goals of users, making the process of accessing global opportunities more difficult for individuals.

Swap was set to ensure that every exchange was not only secure and efficient for customers to benefit from but also financially rewarding. This took place by granting clients optimised purchasing power and business investment potential. 

Earlier in the same month, Flutterwave announced its expansion to India, after the partnership with the Induslnd Bank went live earlier in the same year. Following this announcement, Flutterwave was expected to be enabled to expand its remittance products and services into the region of India. The Induslnd Bank had multiple customers and users across the areas, including merchants, traders, large corporations, and various government entities. 

The partnership was set to provide Flutterwave with the possibility to meet the needs, preferences, and expectations of its customers at the same time, while also remaining compliant with the requirements and laws of the local industry. 

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Keywords: cross-border payments, cross-border ecommerce, payments , online payments, mobile payments, digital payments
Categories: Payments & Commerce
Companies: Flutterwave
Countries: Africa, United States
This article is part of category

Payments & Commerce


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