Flutterwave users might soon be able to transfer money from one African country to another.
Last year, through its Rave platform, the startup partnered with Flywire — a payment and receivables company connecting over 1,400 businesses and institutions with their customers on six continents; the partnership was to enable Flywire users make seamless cross-border payments.
According to a beta tester, it appears the startup is presently testing the cross-border payment feature for users of its Barter application.
Flutterwave has built one of the smoothest ways to transfer money cross-border🚀.Advertisement
Loaded money(Naira) and transferred to Ghana(cedis) in <2min🤯
— Jesse Holmes (@Jessetheranter) October 11, 2019
From the tweet, Jesse further explained that he was charged ₦1,400 ($3.88) for the ₦345,000 ($955.68) transaction he made from Nigeria to Ghana; a 0.4% transaction rate.
This feature will come in handy for Flutterwave users who want to send and receive money within Africa. It is one of the most popular features on cross-border payment application Chipper Cash, for instance.
Exciting news! You can now buy airtime directly from your @chipper_cash app. We don’t just sell you airtime without fees, we sell it to you for less than the the amount you’re buying!! It’s cross border too so you can buy airtime for anyone in 🇳🇬🇺🇬🇬🇭🇰🇪🇷🇼🇹🇿using ur Chipper balance https://t.co/nCGmo7TEvc pic.twitter.com/a0spOr1Ci9
— Ham Serunjogi (@HSerunjogi) September 7, 2019
Chipper Cash claims to offer peer-to-peer money and airtime transfers between African countries at no fee. It is currently active in six African countries — Ghana, Kenya, Rwanda, Uganda, Tanzania, and Nigeria.
Although this move will increase Flutterwave’s pan-African payments status, it remains unclear how soon Flutterwave plans to publicly roll out this feature.
Techpoint has reached out to Flutterwave for comment.
Nigerian startups raised $377m in 2019, more than twice what they did in 2018. Find out more when you download the full report.