In the past, people used different system to manage their finances and business, but it has completely changed. Modern payment platforms have brought the world together. One app or website can now serve multiple functions. It could serve a corporate body, a small coffee shop owner and an individual sending money to a someone. Through this change, financial tasks have become much faster and easier for everyone.
Previously, running a good business is always complex and expensive. Companies were only built by those that could afford them. Meanwhile, personal apps were simple but it lacked the features needed to run an enterprise.
Today, platforms like Flutterwave have made that possible. It has business software tools that are simple for anyone to use. Merchants selling products online or big enterprises can use this secure platform.
Flutterwave is more than just a payment platform, it keeps track of sales, manage stocks. It also helps out individuals who wants to send money across to various regions. You can use this platform to pay for school fees, event tickets and utilities bills in your local currency. Payment platforms like Flutterwave provides; speed, security and choice to its users.
Flutterwave is not just for business or personal use. It’s also for anyone who wants to grow their wealth and businesses.
What is Flutterwave?
Flutterwave is a financial platform that provides the basic software for individuals and businesses to send and receive payments within Africa and globally. Flutterwave can be used for the following:
Personal Purposes
- Individuals can use Flutterwave to manage their personal finances and perform transactions easily through the send app.
- The send app can be used to make international transfer to local bank accounts. Mobile money transactions are done quickly and securely. This site charges low fee for any transaction made.
- For the payment of various services and utilities bills like: electricity, internet, and cable TV subscriptions (like DStv, GOtv) can be done using Flutterwave.
- Individuals can securely shop online from different merchants that use Flutterwave as their point of payment.
- Individuals and families can pay school fees in both local and international currencies, irrespective of where the institution is.
- Users can purchase tickets for different events, such as concerts or movies, through platforms like Afritickets which are powered by Flutterwave.
Business Purposes
Flutterwave’s major aim is to provide merchants a powerful payment structure for businesses of all sizes, from freelancers to large enterprises.
- Business owners can accept payments from customers globally using almost 15 different methods. Credit/debit cards, bank transfers, mobile money, Apple Pay, Google Pay and many others.
- Through Flutterwave Store, business owners can set up a free online store by integrating product lists, order management and a delivery partner.
- Business owners can create and send professional invoices to customers through email. This allows customers to pay directly from the email link.
- Payment links can be generated and shared through social media platforms or email for the collection one-time or recurring payments.
- The Flutterwave mobile app can be used as a mobile point of sale (POS) system, which allows merchants to manage their business and track transactions through your phone.
Business Growth
- Eligible businesses can get a loan to support their business. This depends on your transaction history and the success of your business. Flutterwave helps new businesses with the legal documents to register and incorporate with countries like: United States, United Kingdom or Nigeria.
- Flutterwave gives businesses the right technology and tools they need to create their own payment system and integrate financial services to their products.
- Merchants can accept payments from customers using international debit and credit cards like Visa, Mastercard, Amex, etc from almost anywhere in the world.
- Payments can be accepted in over 30 currencies. This allows businesses to set their prices and receive funds from customers globally.
- Customers in different countries can make payment through various local methods. Flutterwave facilitates the payment process such as mobile money payment made through M-Pesa in Kenya or bank transfer made in a European account. These funds are processed and paid into the merchant’s account.
In addition to the above, businesses may need to do an extra verification of document, to turn on their international card payments on Flutterwave’s dashboard, so they can get paid globally. This means they have to follow Flutterwave’s rules to keep things safe.
How Flutterwave Works
- Create a Flutterwave account on their site. Use the one-time-password which will be sent to your email to verify your account.
- When signing up, you must decide the purpose for using the platform. Either for individual purposes, business, or for non-profit organization. Furthermore, before you could actually receive or send money, Flutterwave must verify who you are through KYC, to keep the platform safe. A Valid ID is often used for this process. However, if signed up as a registered business owner, you must show proof by uploading the business documents.
- Once you’ve gotten your account, the “Test Mode” will be activated. This allows you to check out the dashboard. You can create a mock online store; a test payment links without using real money. You can only switch to “Live Mode” to handle real cash after your verification is approved.
- After your account’s approval, you can then create a payment links for your customers. Set up your Flutterwave Store to sell your products and download the Send App to transfer money to someone.
Below is Flutterwave’s Payment Process
- When a customer buys something from a merchant online and chooses to pay using a credit card or another method like mobile money. Flutterwave securely takes the customer’s payment details by ensuring that the information is correct and safe.
- Flutterwave then sends a message to the customer’s bank through a bank partner to know if the customer has enough money and if the payment can be processed.
- When the bank approves the customers payment, the money will be sent to the bank’s partner.
- The bank partner then sends the money to the business’s Flutterwave account.
- Finally, Flutterwave transfers the money from the merchant’s Flutterwave account into their normal bank account within few days, depending on the type of transaction used.
List of Flutterwave Supported Countries:
Popular Flutterwave available countries are United States, Canada, United Kingdom, Germany etc. Below is the full list of all the Flutterwave supported countries based on regions:
Africa: Cameroon, Central African Republic, Congo, Equatorial Guinea, Gabon, Kenya, Rwanda, Tanzania, Uganda, South Africa, Zambia, Malawi, Nigeria, Ghana, Côte d’Ivoire, Senegal, Burkina Faso, Sierra Leon, Egypt, Algeria, Angola, Benin, Botswana, Burundi, Cape Verde, Chad, Comoros, Djibouti, Eritrea, Eswatini, Ethiopia, Gambia, Guinea, Guinea-Bissau, Lesotho, Liberia, Madagascar and Mozambique.
North America: United States and Canada.
Europe: United Kingdom, Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Republic of Ireland, Italy, Netherlands, Portugal, Slovakia, Slovenia, Luxembourg, Latvia, Lithuania, Malta and Spain.
List of Flutterwave Supported States in the USA
Flutterwave’s Send App money transfer service is available to almost all the states in the U.S. except Texas. Individuals can use the app to send money to people in Flutterwave’s Supported Countries.
People in Flutterwave’s Supported Countries, including the USA, can also receive money from other countries.
For Individuals, the primary use of the Send App in the USA is for sending money from the U.S. to Africa, UK, and Europe. While the app facilitates sending money to U.S. bank accounts from certain regions like Nigeria. The main function for a U.S. based user is typically for sending money.
Moreover, merchants that uses Flutterwave for business purposes in the United States can receive payment from customers around the world easily.
Flutterwave’s Alternatives:
There are many platforms similar to Flutterwave, which supports both the local African markets and the international e-commerce needs. The best alternatives depend on your specific needs. Here are some well-know Flutterwave’s alternatives.
Africa-Focused Platforms
These platforms focus mainly on the African market. It has strong local payment method like mobile money (M-Pesa, MTN Mobile Money, etc.).
- Paystack
- Moniepoint
- Kora
- Interswitch
- Chipper Cash
Global and International Platforms
These platforms are well-recognised for international transactions.
- Stripe
- Adyen
- PayPal
- Square Payments
- Payoneer
Conclusion
Flutterwave provides broad payment options and financial support to three major continents. This platform supports personal needs, international transaction and business growth. It has a notable presence in Africa, where it operates in 30 countries. It supports many local payment options within Africa.
Furthermore, Flutterwave can also be used for international transactions. In the United States, the service is available to only forty-nine (49) states.
Users in Flutterwave supported countries can effectively connect to both African and global markets and receive payments effortlessly.