Flutterwave, a payment technology platform, has announced its partnership with Alipay of China, thereby opening up Africa’s market to Chinese buyers.
The partnership enables Flutterwave, a Nigerian founded B2B payments service – primarily for companies in Africa to accept payment from customers on the continent and abroad – leverage on Alipay’s global network of more than 1 billion active users, per Alibaba’s latest earnings report.
With a large portion of Alipay’s network situated in China, the shrewd move will see flutterwave, capture payment activity around an estimated $200 billion in China-Africa trade, which Flutterwave CEO Olugbenga Agboola said will mean that, “All our merchants can accept Alipay as a payment method”. He said “We set out to provide the complete payment solution for Africans to thrive in the global economy and this is exactly what this partnership will achieve, as the complete payment solution, it would first require interconnectivity within Africa which we are already winning at, then connectivity from Africa to the world. In 2020, Airlines will accept Ali payments and imagine what being able to accept Ali payments will do for duty-free shops at Africa’s airports for instance.
Flutterwave which cunts Uber, Wakanow, Arik Air, among other multinational businesses amongst its customers seems to be winning in its mission to shrink the trading gap between Africa and the rest of the world.
Since inception, the payment platform has processed over 100 million transactions worth over $3 billion.
Business Day, 08 Agust, 2019
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