In the past, retailers could only physically sell their products. They have to sell in person to their customers, which can prove inconvenient and pose a security risk. However, with the rise of e-commerce, things have changed.
There are many companies that sell to customers who do not have a brick-and-mortar store in this area because almost all transactions are made. The e-commerce it creates has grown tremendously over the years. Even in Nigeria, many retailers have accepted this and customers feel that it is the easiest way to buy things.
Although different forms of technology come with their risks, e-commerce is also not risky. With the wave of cybercrime and fraud, it can be difficult for the average Nigerian to trust e-commerce, especially as a gateway to payment.
Flutterwave manages and offers Nigerians a secure way for customers to pay and retailers to accept payments. It provides an easy way to conduct online transactions in a country like Nigeria, where it has been difficult in the past with payment platforms such as PayPal. In this article, we will explore Flutterwave and its offerings as a fintech platform.
+ About Flutterwave
In an effort to change the way we pay in Nigeria and Africa, Flutterwave was founded in 2016. The payment platform has evolved considerably since then, adding many products and features.
Flutterwave was founded by a group of former bankers, traders and engineers. The startup has Olugbenga Agboola as its CEO. The platform relies on advanced technology to provide a payment gateway that generates global businesses in Africa. Flutterwave's mission is to "simplify payments for endless possibilities." They allow companies to accept payments from anywhere in Africa and around the world.
+ Is Flutterwave safe?
We know you want to know if Flutterwave is a safe platform for your money. Don't worry, we investigated and got answers.
Flutterwave says that "we take security seriously, so every payment made on our platform is 100% secure, even outside the industry standard."
They are compatible with PA DSS & PCI DSS, which guarantee security and show that the payment gateway is guaranteed the highest level of security audit. With ISO 27001 and 22301 certification, you can be prepared to ensure that Flutterwave is fully equipped to manage certified payments for acceptable business practices and processes.
+ How much does Flutterwave cost?
Flutterwave fees vary whether you are conducting local or international transactions.
For local transactions, Flutterwave will charge 1.4% as a processing fee. Processing costs are limited to a minimum of N2000
If you make an international transaction, you will be deducted 3.8% as processing costs. It is worth remembering that Flutterwave accepts payments from anywhere in the world.
If this is a local transaction, you will receive your payment the day after it is made, but international transactions vary depending on your region.
+ Which channel works on Flutterwave?
While Flutterwave has designed its payment facilitation platform, they have a variety of payment methods that you can use:
1- Debit and credit cards
2- Bank accounts
3- Mobile money
3- POS
4-M-Pesa
5- Show QR
6- Bank transfer
7- USSD
+ Rounding Up…
With people like Flutterwave, the problems of Nigerian businessmen with accepting payments from all over the world have ended. Flutterwave is a new company that has helped many companies. We hope this review was helpful. If so, leave a comment and don't forget to share.
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