Middle East & Africa Paytech

African Fintech Flutterwave Supports Nigeria’s eNaira Digital Currency

African payments technology firm Flutterwave has added Nigeria’s eNaira digital currency as a payment option for merchants.

Nigeria became the first African nation to launch a digital currency last October. According to the Central Bank of Nigeria, which issues and regulates eNaira, it has recorded 200,000 users and N4billion worth of transactions since it debuted.

Flutterwave, which currently operates across Africa, Europe and North America, provides technology, infrastructure and services to enable global merchants, payment service providers and Pan-African banks to accept and process payments on any channel.

It enables merchants to offer over a dozen payment methods to their customers with the eNaira now also available for Nigerian merchants to collect payments from their customers who have the eNaira app. Flutterwave also allows merchants to disable it, as they can do with any other payment method.

“Flutterwave continues to be at the forefront of innovation as it develops and implements new solutions to facilitate global payments and promote financial inclusion,” says Oluwabankole Falade, chief regulatory and government affairs officer of Flutterwave.

“We strive to enable various payment methods to merchants and their customers to ensure everyone has access to payment solutions that work for them. We are delighted that now over one million merchants can accept eNaira payments via our platform and are confident that this number will grow further as we continue to innovate and expand.”

Earlier this month, Flutterwave secured a switching and processing licence by the Central Bank of Nigeria, which allows Flutterwave to offer transaction switching and card processing services to customers. Others include non-bank acquiring, agency banking and payment gateway services.


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