Flutterwave was recently granted its payment services provider and payments facilitator licenses in Egypt, according to a press release.
“Flutterwave facilitates cross-border transactions in multiple currencies for global companies, including Uber, and the new licenses will help the company support international businesses entering the Egyptian market or growing their operations in the country,” a recent press release states. “Flutterwave will also be in a strong position to empower businesses based in Egypt to expand internationally, in addition to creating new jobs in the country through empowering local businesses.”
The licenses will enable Flutterwave to serve as an official payment service provider in the country. The services it will offer include making collect payments on behalf of their clients, and settling payments on a local and global scale.
The approvals will allow the California-based African leading payments technology company to offer a catalog of products in Egypt, including store, payment links, invoices and checkout.
Flutterwave is one of the few payment service providers in Egypt with local and global settlements capabilities.