Flutterwave enables eNaira collections for businesses in Nigeria

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3 years ago

Flutterwave, Africa’s leading payments technology company, has announced that merchants can now accept eNaira payments from their customers on their platform.

This is an addition to other existing payment methods on Flutterwave including cards, bank transfer, Barter by Flutterwave etc.

eNaira is a digital currency issued and regulated by the Central Bank of Nigeria as a medium of exchange and store of value. It was launched on October 25, 2021, and is available to users with or without a bank account, as they only need to register and access the wallet via the eNaira mobile app. To complete transactions on Flutterwave, users can either scan QR codes or generate one-time tokens using the app.

Flutterwave provides technology, infrastructure, and services to enable global businesses, payment service providers and Pan-African banks to accept and process payments on any channel (Web, Mobile, ATM & POS). The company currently operates across Africa, Europe, North America, and other emerging markets by providing a suite of payment tools that enable over One million businesses to accept payments from their customers anywhere in the world in over 150 currencies, including the Naira and eNaira.

Flutterwave merchants can enable the eNaira payment option on their dashboard for their customers’ use.

Speaking on the development, Olugbenga GB Agboola, Founder and CEO of Flutterwave, said, “With our new adoption of eNaira as a payment method on Flutterwave, we’re enabling various payment methods to merchants and their customers to ensure everyone has access to payment solutions that work for them. Flutterwave will continue to strive to be at the forefront of innovation as we develop and implement new solutions to facilitate global payments for our customers .”

In the same vein, Azeez Oluwafemi, Senior Vice President, Products and Design said, “We’re the payment solution that strives to allow individuals and businesses with various payment needs and requirements to do business, easily. The eNaira feature is important for merchants and customers because it offers an alternative payment method that many users find seamless.

It’s a key update to Flutterwave and we continue to look out for opportunities like this to improve our offering to our range of customers.”

The company earlier announced the issue of its Switching and Processing license from the Central Bank of Nigeria (CBN) to offer transaction switching and card processing services to customers. Other services include agency banking and payment gateway services.

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