Fintech: Flutterwave targets global businesses with ‘Rave’

WITH the evolution of fintechs in the country, Flutterwave has said its target is to reach out financial services across the globe, as it presently process 98 per cent of payment types in the world with its flagship product, Rave.

Olugbenga Agboola, Chief Executive Officer and co-founder of Flutterwave, at a press briefing recently explained that the company through its products aim to enhance the Central Bank of Nigeria’s (CBN) financial inclusion and enhance access to financial services for low income earners and unbanked segments of the society through technology.

According to Agboola, the company’s flagship product Rave, is a payment platform that connects banks with merchants and their customers anywhere in the world using both online and offline payment options from anybody in the world through its convenient payment systems.

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“With Rave we can collect payment from any country, with any card and however the customer wants to pay including cash and other offline payment options. This is what makes us different from other payment solutions,”

He mentioned that another benefit merchants gain in using Rave is that the pressure of seeking a cost management platform is taking off the merchants at no cost, as it also provides data analytics, and ensures that merchants can with the platform transfer money out to workers or clients.

Speaking on the issue of security and trust, Agbola noted that the company has PCI level 1 license, which shows it has been verified by an independent auditor to process payments in a secure and trustworthy manner.

“Secondly, we have the ISO27001 this is the highest security rating any payment gateway can have in the world, and we are also PADSS certified, which ensures that the company has the right to process and transmit cardholder data securely in Nigeria and anywhere in the world.

The company boasts of over 25,000 merchants and has physical presence in other countries outside Nigeria like Uganda, Tanzania, South Africa, Kenya and USA.

Speaking on the business, the CEO and co-founder of Flutterwave said so far, the comoany has been able to facilitate funds to drive it’s vision from global investors such as Greycroft, Master Card, Y Combinator, Green Visor capital and Omidyar Foundation.