Nigerian Fintech Company, Flutterwave gets CBN approval for USSD

Flutterwave, is one of Nigeria’s top Fintech companies, the company is focused on helping banks and businesses provide seamless and secure payment experiences for their customers. According to Flutterwave, the company’s infrastructure enables business and individual payments via cards, mobile money wallets, and bank accounts from different African countries and around the world, all of which can be performed on one integrated platform.

Flutterwave, the award-winning payment company just made its services more accessible, it just got approval from the Apex Bank–Central Bank of Nigeria, for the use of the Unstructured Supplementary Service Data (USSD) technology for its products.

We are excited to introduce this new payments solution to the market, staying true to our promise to provide modern payment infrastructure that empowers Africans. Our new payment channel offers Africans the benefits of security and convenience in their day-to-day transactions. – Head, USSD product Engineering, Dayo Okesola said.

They’ve company’s infrastructure for banks and businesses has been a major part of the Fintech ecosystem in Africa processing more than $1.2 billion dollars across 10 million transactions and introducing 4 different products to enable Africans easily transact and transfer cash online. The startup raised over $10 million in a Series A round of funding last year, Ventures Africa reports.

USSD is being adopted by most banks to create a fast way for people to do banking transactions without being in the banking hall, Flutterwave by adopting this allows them to reach the larger part of the demographic with no internet access. By dialing a shortcode that starts with * and ends with #, transactions can be carried out easily.

Adedayo Laketu

Adedayo Laketu is a creative inventor who's interested in curating a New Age for Africa across all mediums.

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