Flutterwave a platform that provides technology, infrastructure and services to enable global merchants, payment service providers and Pan-African banks accept and process payments on any channel (Web, Mobile, ATM & POS), has announced the launch of a new product, Moneywave.
Moneywave is an omnichannel platform for payment as a service across Africa. What this means is that with Moneywave you can accept payment however it’s offered and receive it instantly in whatever form you choose.
According to Iyinoluwa Aboyeji, CEO of Flutterwave, in an interview with Techcrunch, “The ecosystem for payments in Africa is heavily fragmented. Anywhere in the west, you’re able to leverage your credit card to pay and get paid. If I’m a small business in Nigeria, I can’t accept cards, the overhead will kill me!”
He continued that “What we’re trying to do is remove the barriers between these payment instruments and channels. If what you have is mPesa, you should be able to pay into someone’s bank account. You can charge people’s cards. You can accept payments via a link on Instagram.”
Moneywave is not app but an API layer that will be integrated into your business, no matter how small your business is and you will be able to receive payments from whatever currency or card and this is all for a small flat fee, which is quite lower than what you will pay for you go through the available channels.