Flutterwave has received a Payment System licence from the Bank of Zambia, enabling its operations in Zambia. The company aims to simplify payment acceptance for Zambian businesses while promoting secure and scalable payment solutions amid the country’s growing digital landscape. With its various payment options, Flutterwave supports businesses to expand into the Zambian market efficiently.
Flutterwave, a prominent provider of fintech solutions, has successfully obtained a Payment System licence from the Bank of Zambia. This licence authorizes the company to operate within Zambia, facilitating the expansion of its payment solutions throughout Africa. Flutterwave’s offerings are designed to simplify payment processing for Zambian businesses, enabling them to accept payments from local and international customers using their preferred methods. Additionally, the platform supports both single and bulk payouts to partners and employees.
Zambia presents significant opportunities for digital growth, with increasing internet accessibility at 32% penetration. As the country embraces digital transformation, its digital payments market is expected to reach USD 6.7 billion by 2025. Consequently, there is a rising demand for secure, efficient, and scalable payment solutions as businesses increasingly adopt digital tools and a larger population comes online.
With Flutterwave, businesses entering the Zambian market can leverage simple, safe, and secure payment solutions. The company adheres to stringent industry security standards such as PA-DSS, PCI-DSS, and holds ISO 27001 and 22301 certifications, thereby ensuring robust protection for both businesses and customers. Additionally, Flutterwave’s platform is designed to enhance payment completion rates and operational efficiency, fostering business growth and increased revenue.
Flutterwave’s payment gateway provides organizations with the ability to accept both local and international payments through various methods, including credit cards and mobile money options. Businesses can also efficiently disburse payments in Zambian Kwacha to multiple recipients such as employees, suppliers, or partners. The service allows seamless API integration into websites and applications, enabling online payment processing through various channels such as direct charge and checkout methods.
Moreover, users have the capability to monitor transactions, generate reports, and manage collaborators directly from the Flutterwave dashboard. They can create single and recurring payment links, facilitating quick and secure transactions across more than 50 countries, further enhancing their operational capabilities.
In conclusion, Flutterwave’s acquisition of a Payment System licence from the Bank of Zambia marks a significant milestone in its efforts to expand payment solutions across Africa. With a growing digital landscape in Zambia, which is projected to see massive growth in digital payments, Flutterwave’s secure, efficient offerings will enable businesses to thrive in this evolving market. Furthermore, their compliance with industry standards and the flexibility of their payment solutions underline their commitment to supporting local businesses in their payment processing needs.
Original Source: thepaypers.com
