Payments technology company Flutterwave says it has recently secured a Payment Institution (PI) license from the Central Bank of West African States (BCEAO), positioning it to help businesses in Senegal scale by offering its full range of seamless digital payment services.
Flutterwave points out that Africa’s financial landscape is transforming with the rise of digital payments. As more innovations emerge to facilitate payments beyond traditional banking methods, trade is becoming more efficient, accessible and inclusive. This, the company points out, has led to major economic growth within African countries.
Senegal, Flutterwave adds, is a large contributor to this shift. With 28% of adults using mobile money in sub-Saharan Africa, Senegal represents a significant portion of the market, driving the growth of digital payments across the continent.
Flutterwave says its fully licensed payments infrastructure empowers businesses to efficiently manage collections and payouts, streamlining operations and enabling seamless scalability.
For small and medium-sized businesses in Senegal, Flutterwave offers flexible payment options such as mobile money and cards. It adds that business owners can easily track transactions through a user-friendly dashboard and create payment links for seamless sharing on platforms like WhatsApp and Instagram, helping to break down traditional payment barriers and drive growth.
This announcement follows Flutterwave’s recent commitment to offering licensed payment services in Cameroon.
Currently operating in over 60% of African countries, Flutterwave enables business growth and connects Africa to the global economy with seamless payments.
Flutterwave says its clientele includes giants across various industries such as transportation, entertainment, and hospitality including Uber, Air Peace, and Netflix.
