Flutterwave Review: Payment Solution for Merchants in Africa

What is Flutterwave? Flutterwave is a fintech platform than enables its partners to process credit cards, debit cards and local payments solutions such as mobile money and ACH transfers in Africa. It also allows individual users to create virtual cards instantly for online payments. In addition, it has features such as recurring bills, allowing your customers to subscribe to a plan to be billed recurrently.

Flutterwave has its headquarters in San Francisco. It was founded by Iyinoluwa Aboyeji and Olubenga Agboola, who is Flutterwave CEO, in 2016. It has received best payments company reward in the Ghana eCommerce awards. It is a trusted payment partner by businesses like Uber, Nairabox, Accessbet, Max.ng and many others.

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How to Open Flutterwave Account

You need to create a Flutterwave account to be able too use its services. You can sign up for Flutterwave individual account, Flutterwave business account or Flutterwave NGO account. The requirements for opening Flutterwave account depend on the country and category of account you are signing up for. Find out what is needed to create a Flutterwave account per country.

When you sign up on Flutterwave, by default, you are live and can start receiving payments immediately. However, your transaction volume will be limited and you will not be able to make use of the transfers and balance top-up feature if your account is not verified.

How Flutterwave Works

To get paid with Flutterwave API, you do not need to have a website. You can share a payment link to your customers so that they can make payments. It is easy to create Flutterwave account for your customers to pay using a card, bank account, USSD, M-Pesa and Ghana mobile.

If you have a recurring bill, you can set a subscription so that it is billed and deducted automatically every billing cycle. Flutterwave will generate different subscription payments for your customers to access. It can be hourly, daily, monthly or annually.

Recurring payments allows you to receive payments from your customers at specified intervals. You customers won’t have to initiate payment every time to make a payment. Instead, they will be billed every billing cycle and the amount deducted automatically. You can create a payment plan by:

  • Creating a subscription payment page
  • Create a payment plan on the dashboard
  • Create a payment plan using APIs

You can use Flutterwave to make payments in Africa using any of the following methods:

  • M-Pesa (Flutterwave Kenya)
  • Bank transfers
  • Mobile money
  • Debit and credit cards (Mastercard, Visa, Amex, Discover)
  • Bank account
  • POS
  • Visa QR
  • USSD
  • Flutterwave Barter

Flutterwave Products / Flutterwave Features

Flutterwave has some of the best products and features. Its products are geared towards B2B, B2C, and B2B2C.

As a business owner, you can collect payments from customers in over 150 currencies, including Naira, Dollars, Pounds, Euro and Yuan. Serve your customers anywhere. Web, Mobile, Android and iOS.

  • Flutterwave Checkout. Collect payments from your customers anywhere in the world on web and mobile.
  • Barter by Flutterwave. It is a payment service that allows users to send, receive or spend money (e.g buying talk-time and paying bills). You can also use it to create Barter virtual cards for your online shopping and utilities. You can fund Barter using a physical debit card, M-Pesa MTN, MoMo, or bank account. As of now, it is not possible to fund Barter on the web. Barter to barter cash transfers are free and instant.
  • Flutterwave Payment Links. Receive payments without a website or Flutterwave integration by creating payment links and send to your customers.
  • Flutterwave Rave. Rave is a service by Flutterwave that allows businesses to accept global payments.
  • Flutterwave Virtual Cards. Flutterwave API allows users to create virtual cards instantly for online payments. You can use global websites and mobile wallets to create a virtual MasterCard or Visa card.
  • Flutterwave Invoices. You can prepare professional invoices using Flutterwave and get paid. You can also use it to track progress in payments. You can share invoices created on Flutterwave directly on WhatsApp. You can set automatic reminders for your customers to make on-time payments.
  • Flutterwave Consumers. Make payments for goods and services using payment methods such as card, USSD, bank transfer or M-Pesa.
  • Flutterwave Store. Start selling your products online with Flutterwave store.
  • Flutterwave Donation. Flutterwave allows NGOs and charities to create a button for accepting donations on their websites.
  • Flutterwave App. Flutterwave has an app that is available for iOS and Android. You can use it to create virtual cards, send, receive and spend money. You can use the app to sign up for Flutterwave.

We use Flutterwave as a payments partner and they give us access to their technology to allow us to focus on the marketing and give our merchants the ability to focus on what makes their business tick. – Jacques Serfontein, the CEO of Cbucks.

Flutterwave Fees

Flutterwave pricing varies based on the product and country. There is no fee for setting up your Flutterwave account. Payment is charged per transaction while local and international transactions have different prices. For example, Flutterwave pricing in Nigeria is as follows:

  • 1.4% processing fee for local transaction
  • 3.8% processing fee for international transactions

Find out Flutterwave transaction fee for your country here.

Payments in any currency other than your local currency are regarded as international payments for purposes of settlement and pricing.

Flutterwave Money Transfer Fees

Flutterwave supports money transfer payouts to bank accounts and mobile money. Flutterwave money transfer fee depends on the country of the recipient. For example, Flutterwave Nigeria money transfer fees are 10 Naira + 7.5% VAT for transactions up to N5,000, 25 Naira + 7.5% VAT for Transactions from N5,001 to N50,000, 50 Naira + 7.5% VAT for Transactions more than N50,001, etc. Here is full Flutterwave money transfer pricing for each country.

Flutterwave Plugin and Integration

Flutterwave comes with different plugins that you can use to integrate your websites and applications. You can connect your Flutterwave data to your business tools to manage business revenues. With Flutterwave plugin, you can enjoy business tools like Mailchimp, Intercom, Sage, Zoho Books, Xero and Quickbooks. You can also integrate Flutterwave’s WordPress payment forms.

Flutterwave Transfers

You can make a Flutterwave transfer to any bank locally and abroad through SWIFT. Most of the cash transfers to Africa take between 2 to 3 working days. However, mobile money transfers to Cameroon, Ghana, Ivory Coast, Guinea Conakry, Kenya, Malawi, Mali, Nigeria, Rwanda, Senegal, Zambia, Zimbabwe, Uganda and Tanzania are instant.

Flutterwave Supported Currencies and Flutterwave Supported Countries

You can make transfers in the following currencies:

  • NGN
  • GHS
  • KES
  • TZS
  • UGX

If your cash transfers are not nominated in any of the above currencies, then you must use USD, GBP or EUR. The currency will then be converted to the local currency using mid-market rates. Flutterwave exchange rates are based on mid-market rates.

Flutterwave has its operations in Ghana, Kenya, Nigeria, Uganda, South Africa, Rwanda, United States, United Kingdom, Zambia, Tanzania and Cameroon.

Flutterwave and PayPal

Flutterwave and PayPal have partnered to enable PayPal customers globally to pay African merchants in the continent through Flutterwave’s platform. Through Flutterwave Paypal partnership, SMEs and freelancers in Africa will be connected to more than 377 million PayPal account holders worldwide. The service will be available in 50 African countries.

Is Flutterwave Safe?

Flutterwave is a safe and secure payment platform. It is also PA DSS & PCI DSS certified, proof that it has passed the payment processing gateway security audit. It is also ISO 27001 & 22301certified, an indication that their business processes and practices are acceptable. All Flutterwave payments and transfers are covered by the Flutterwave Consumer protection promise.

Flutterwave Customer Service

You can reach Flutterwave customer support via Flutterwave email: hi@flutterwavego.com

Flutterwave Alternatives

You can use these payment services as an alternative to Flutterwave payment gateway:

Final Thoughts on Flutterwave Payment Gateway

Flutterwave is a great payment gateway for businesses. You can use it for recurring bills and to create virtual cards for online shopping. The partnership between PayPal and Flutterwave will make payments even easier.

More Information

Vincent is a writer and researcher with an interest in finance, banking, startups, and remittance. He holds a Bachelors degree in Applied Statistics with computing. He founded Nexin Startups, an online platform offering startup advice to investors and entrepreneurs. Read more about us and our authors.