Nigerian fintech startup Flutterwave has partnered with Worldpay, a leading payments technology solutions company from FIS, to assist businesses in South Africa and Nigeria in processing online card payments and consequently boost the eCommerce industry in both countries respectively.
Flutterwave and Worldpay partner to improve online card payments for eCommerce businesses in SA and Nigeria
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Through the partnership, Worldpay will leverage off Flutterwave’s technology to process domestic payments, starting with Nigeria and South Africa further assisting businesses to process online card payments from consumers.
In an official press statement, Flutterwave provides insight into what the partnership has yielded for businesses in South Africa and Nigeria.
“Utilizing a single-entry point with Worldpay, you can offer your customers domestic payment options to boost conversion and acceptance rates. This is good news for existing businesses looking to simplify their payments, and great news for enterprise businesses looking to expand into Africa.”
South Africa’s eCommerce industry
According to reports, South Africa’s eCommerce industry is projected to be worth $9 billion by 2024. With this in mind and the growing number of consumers opting for card payments to pay for ordered goods online during 2020, Flutterwave believes that local eCommerce businesses will be expanding globally as it experiences massive growth in business revenue.
Flutterwave explains what the partnership with Worldpay means for South Africa.
“This partnership will offer access for businesses to receive card payments such as VISA and Mastercard, with more options to come in the future This would greatly improve payments processing for businesses in South Africa and other businesses looking to expand into the market.”
Flutterwave claims that card payments are among the four most popular payment methods in Nigeria and growing fast. With this in mind, the partnership will enable merchants in Nigeria to process card payments with Worldpay’s gateway through Mastercard and VISA.
“This collaboration further helps ambitious Nigerian businesses expand globally,” explains Flutterwave.
Featured image: Clay Banks via Unsplash