Flutterwave gets License to Operate in Egypt

Flutterwave, a Nigerian fintech startup, has been granted licenses in Egypt as a Payment Services Provider and Payment Facilitator.

With these licenses, the business will be authorized to collect payments on behalf of its clients and settle bills on both a local and international level as Egypt's official payment service provider.

Flutterwave gets License to Operate in Egypt

The African payments company will be able to use these licenses to deploy Flutterwave for Business's store, payment links, invoicing, and checkout in Egypt.

Currently, the business helps international businesses like Uber do cross-border transactions in multiple currencies. Additionally, the new licenses will assist Flutterwave in assisting foreign companies expanding or entering Egypt.

Additionally, customers can now send funds to Ethiopia. Money can be sent home by Ethiopians living abroad, and the beneficiaries can pick it up from Dashen Bank locations, Amole Agents, and Ethiopian postal facilities.

It is also worthy of note that The Kenyan government has exonerated Flutterwave of the charges against it, seven months after a Kenyan court ordered the freezing of $3.3 million in the business's accounts over claims of card fraud and money laundering, which the company vehemently rejected.

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