Flutterwave Review: All You Need To Know About The Online Payment Platform
About Flutterwave
Flutterwave is a payment processing platform and API that allows you to process Credit Cards and other local alternative payments, such as Mobile Money, MPesa and ACH across Africa. They also make it possible for global merchants to carry out payments like a local African company.
Flutterwave is an online payment platform founded in 2016 by Iyinoluwa Aboyeji and Olugbenga Agboola. Since its inception, they have experienced a massive increase in growth and are focused on accepting payments, making payouts, and managing business funds from an integrated platform that helps users to connect globally.
Online security has always been a top issue in our digital world today. We all know that next to everything can be done online presently and while it seems exciting and promising, it also poses great threats because of the tendency for cybercrime in our data-driven world. The amount of information that is exposed to many online platforms poses a security risk and breach of the privacy of internet users that are across the world.
The movement of currency from one place or country to the other has been a challenge in many developing countries, using Nigeria here as a case study. Due to this challenge, two Nigerians thought it wise to build a platform (known today as flutterwave.com) that will allow for payments and would be a payment gateway implementation in Nigeria and across the world. Before that, popular platforms that accept and send payments such as Stripe, PayPal, etc were restricted from some countries, which includes Nigeria.
This post analyzes Flutterwave as an organization, their achievements, and weaknesses and also suggests possible strategies to help spread the word out to intending users.
Flutterwave processes billions of dollars around the world and is arguably the most reliable and trusted payment partner of most Nigerian and African businesses. Popular digital service providers such as Nairabox, Uber, Max.ng, Accessbet, together with over 1000 other businesses trust Flutterwave in managing online transactions.
Flutterwave Products
Flutterwave has two major products which are Barter and Rave. Let us take a moment to look at the two products.
Barter is a payment platform that was developed to help users focus more on enjoying life and less on how to spend, spend, and to borrow money. The barter team handles this process for their clients and are trusted by more than 30,000 users.
Rave by Flutterwave is seen as one of the easiest ways that you can accept payments from customers anywhere in the world. Their payment solution makes it to be much easier with secure and reliable tools. Whether you need a simple payment link or you need to manage payouts for several people, they have tools that are designed to help you completely integrate global payments platform at your fingertips.
Who is Flutterwave for?
Flutterwave is for people who build payment solutions for other people. In this case, PayStack makes use of Flutterwave. Anyone else who is building solutions for merchants, clients, and the likes can make use of Flutterwave.
Flutterwave platform helps buyers make purchases in more than 156 countries in the world. It accepts popular cards like Verve, Visa, and MasterCard while making both local and international transactions. Creating an account with them is free but a fee of 1.4% + ₦50 is charged for local card transactions and 3.5% + $1 is charged for international transactions.
Apart from the payment gateway, the fintech startup has a payment application known as Barter which helps with social e-commerce transactions. The application would feel the effect of reduced e-commerce transactions if the WhatsApp digital payment service launches but it has other focus such as the mobile money market and across border payment options that will rake in many users for them. GetBarter charges roughly 40 Naira or 11 cents per transaction.
Pros of Flutterwave
1. Flutterwave joins together payment service from over 68 gateways which include mobile money and places them under one platform.
2. Their service is currently active and it can receive and send money in over 30 African countries.
3. Their service is also rendered across the world.
Cons of Flutterwave
1. Their service is not rendered in all African countries.
2. They are still new in the payment processing industry.
Popularity
In terms of social presence and advertising, they are doing a very good job and have a good digital marketing team.
However, we noticed that they give little regard to their YouTube Channel. And considering how visual content has been consumed online lately, targeting several users through YouTube will in no doubt increase their client base.
Conclusion
The payment platform looks very promising, very easy to navigate, with a very good User Interface. Also, the funds that are received are sent out almost immediately which is what most users want from such platforms. They also support payment of TV subscriptions, data, and airtime purchases from the top network providers in Nigeria and Africa.
