Toronto and Lagos based fintech company —Fliqpay— today announced the launch of its cryptocurrency payment gateway which allows African businesses to accept cryptocurrency payments from anywhere in the world and get settled instantly in their local currency bank account.
Cryptocurrencies have received increasing interest from different corners of the world, but one question that often remains unanswered is what can people do with cryptocurrencies? Fliqpay answers this question via its cryptocurrency payment gateway- as its solution allows businesses to accept cryptocurrency as payment for their products or services.
Fliqpay’s solution is interesting because it eliminates the concern of price fluctuation that many businesses have with receiving payment in Bitcoin and other cryptocurrencies. These businesses are settled in their local currency instantly. Its solution also cuts regular transaction fees by about 60% and offers zero chargebacks.
Fliqpay is launching its payments gateway with support for 5 local currencies including Nigerian Naira, Kenyan Shillings, Ghanaian Cedis, and South African Rand.
With the launch of its payment gateway, businesses in Africa can integrate Fliqpay’s API and accept cryptocurrencies as payment. Available cryptocurrencies that businesses can accept include; Bitcoin, US Dollar Tether (USDT), Ethereum, Litecoin, and Ripple’s XRP.
According to the Chief Executive Officer of Fliqpay, Wole Ayodele, “our solution is aimed at helping African businesses to expand where they can do business. From the entrepreneur that makes handmade Ankara bags in Lagos, Nigeria to the freelance graphics designer in Mombasa, Kenya, we view ourselves as a facilitator in driving business growth for African entrepreneurs and companies.”
Prior to its public launch, Fliqpay had done over $12m in transaction volume.
Fliqpay is part of the Techstars network and was recently one of 10 startups to receive $1.2 million in seed funding from the American startup accelerator.
Fliqpay recently also announced a partnership with a blockchain company, Conflux. The partnership would allow Fliqpay to leverage Conflux’s state of the art blockchain to ensure faster payment processing. As well as a cheaper settlement for cross-border transactions.
Fliqpay is a fintech company that is revolutionizing payments using blockchain technology. Fliqpay provides African businesses a cryptocurrency payment gateway that enables them to receive cryptocurrency payments online and offline and get instant settlements in their local currency.
Fliqpay also offers a cross border payment solution that allows financial institutions to send and receive value from anywhere in the world instantly. For its cryptocurrency payment gateway, Fliqpay has payout capabilities in over 15 African countries including Nigeria, Ghana, South Africa, Kenya, Uganda as well as francophone countries in West African CFA.
This year, Fliqpay became a Techstars alumni. Techstars is a seed accelerator that helps startups succeed. Fliqpay was founded in 2019 and has done over $14 million in transaction volume. Fliqpay is based in Toronto, Canada and Lagos, Nigeria.
Nigerian startups raised $55.4m in Q1 2020; over 99% of which came from foreign sources. Find out more when you download the full report.
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