In a significant move for Nigeria’s e-commerce landscape, Flutterwave, Africa’s leading payments technology company, has unveiled a groundbreaking partnership with American Express. Announced on August 20, 2024, this collaboration allows Flutterwave’s online merchants in Nigeria to accept American Express payments, opening up new avenues for international transactions and expanding customer bases.
Flutterwave CEO Olugbenga ‘GB’ Agboola expressed enthusiasm about the partnership, highlighting its potential to connect Africa to the world through seamless payment solutions. “At Flutterwave, we’re always looking for ways to connect the world to Africa through payments,” Agboola stated, emphasizing the company’s commitment to facilitating global transactions for African businesses.
The new functionality enables American Express Card Members, including those with consumer, business, or corporate cards, to make direct payments to e-commerce businesses in Nigeria using the Flutterwave platform. This development will benefit Nigerian merchants and soon extend to Flutterwave partners in Tanzania, Rwanda, Ghana, and Uganda.
For Flutterwave merchants, this partnership presents an opportunity to tap into a new customer base comprising American Express Card Members from Africa and worldwide. This expansion includes individual consumers with personal cards and corporate spenders, subject to applicable terms and conditions.
The collaboration also enhances customers’ shopping experience by providing more payment options. By integrating American Express as a payment method, Flutterwave aims to streamline transactions for cardholders while improving the overall experience for e-commerce businesses utilizing their platform.
Flutterwave CEO Agboola elaborated on the benefits, stating, “This collaboration also provides more options of where to shop and what to buy to American Express cardholders across the globe.” He emphasized that offering American Express as a payment method would simplify and expedite cardholders’ transactions while simultaneously boosting e-commerce businesses’ capabilities using Flutterwave.
From American Express’s perspective, this partnership aligns with its strategy to expand its African presence. Briana Wilsey, Vice President and General Manager of Global Network Services EMEA at American Express, commented on the collaboration: “American Express continues to expand in Africa to enable greater payment choice for businesses and consumers.”
Wilsey also highlighted the partnership’s mutual benefits, noting that it provides Nigerian e-commerce merchants with access to American Express Card Members worldwide and increases the number of locations where Card Members can use their cards in Nigeria.
The Flutterwave CEO’s announcement underscores the company’s role as a bridge between African businesses and global markets. By enabling local and cross-border transactions through a single API, Flutterwave has processed over 630 million transactions exceeding $31 billion, serving a diverse clientele, including major players like Uber and Air Peace across various industries.
This latest development adds to Flutterwave’s growing list of payment options, including local and international cards, mobile wallets, bank transfers, and Google Pay. With an infrastructure reach spanning 34 African countries, Flutterwave continues to solidify its position as a key player in Africa’s fintech landscape.
As Flutterwave CEO Agboola and his team forge ahead with this new partnership, the move is expected to contribute significantly to the growth of e-commerce in Nigeria and eventually across other African nations. By bridging the gap between local businesses and international payment systems, Flutterwave is paving the way for African merchants to “start locally and sell globally,” as Agboola aptly puts it.