Flutterwave secures digital payment licence in Cameroon

By receiving the authorisation from Cameroon’s National Payment Systems Department, Flutterwave will provide its complete suite of digital payment solutions to businesses and individuals in Central Africa.

The newly gained licence aims to expand Flutterwave’s presence in Francophone Africa. This move builds on the company’s existing partnership with telecoms company MTN, which has enabled merchants in Cameroon to accept mobile money payments through MTN MoMo. 

Cameroon has considerable potential in its digital landscape. The country’s digital payment market is projected to reach USD 4.64 billion in 2025, with a total transaction value expected to grow at an annual rate of 20.94% reaching an estimated total amount of USD 12 billion by 2030. 

As one of the fintechs authorised to operate in Cameroon, Flutterwave is assisting businesses (SMEs, service providers, or large corporations) in accepting payments, making payouts, and managing financial operations securely. The digital payment licence, obtained through a technical partnership with Ecobank, ensures that all services offered by Flutterwave in Cameroon comply with regional regulations.

Flutterwave’s payment offerings in Cameroon

By incorporating Flutterwave, businesses can access the following features:

• Accept payments through mobile money, cards, and bank transfers;

• Create payment links;

• Send digital invoices;

• Collect payments in local currencies;

• Optimise settlement management.
  
  

Growing regulatory footprint in Africa

The company has secured important regulatory licences, including a Payment System licence from the Bank of Zambia, a Payment Service Provider licence in Ghana, and a Payment Systems Operation licence from the Bank of Uganda. According to the company, Flutterwave currently supports payments in 34 African countries, providing payment infrastructure for businesses of all sizes. The company’s platform supports payments for global merchants, including Uber, Microsoft, and Booking.com, while enabling SMEs to conduct cross-border transactions.