Back in November last year, the Nigeria-based Flutterwave launched Rave – a FinTech solution that allows merchants to in Africa accept cashless payments options like PayPal, MasterCard, Visa, Bank Account, Verve, and USSD payments.
Although the African market has made great strides towards adopting cashless economy in the recent half a decade or so, there is still a long way to go.
“Today, although many African businesses want to accept payments from around the world, international card payments are fraught with risks of chargebacks,” wrote Flutterwave in its Medium account.
“On one hand, customers may not trust local businesses enough to put their card details on their website; on the other hand, PayPal is trusted by millions of customers and merchants around the world. And this is why we think this feature is a game changer for any business accepting payments with Rave.”
— Iyinoluwa Aboyeji (@iaboyeji) November 3, 2017
Flutterwave goal is to make Africa do transactions minimal frictions especially when buyers and/or seller use the alternative cashless payment options. For customers paying via PayPal, Rave will pay a 1.4% +N50 per transaction service fee.