One of the fastest growing fintech startup in Africa, Flutterwave is partnering with Chineese giant Alibaba to create China-Africa unification via payment.
The partnership with the Chinese e-commerce is to offer payment infrastructure connecting African businesses and merchants with the Alibaba’s Alipay.
According to the CEO of Flutterwave, Olugbenga Agboola said; Flutterwave CEO said it all: “This means that all our merchants can accept or install Alipay as a payment type to accept payments from its billion users. There’s a lot of trade between Africa and China and this integration makes it easier for African merchants to accept Chinese customer payments.” That is unification via payment.
Flutterwave is a Nigerian-founded B2B payments service (primarily) for companies in Africa to pay other companies on the continent and abroad. Alipay is Alibaba’s digital wallet and payments platform. In 2013, Alipay surpassed PayPal in payments volume and currently claims a global network of more than 1 billion active users, per Alibaba’s latest earnings report. A large portion of Alipay’s network is in China, which makes the Flutterwave integration significant to capturing payments activity around the estimated $200 billion in China-Africa trade.