Browsing: Flutterwave Payments Technology Ltd

The Central Bank of Nigeria (CBN) has accorded a Switching and Processing License to Flutterwave, an African payments technology business. This is widely regarded as the CBN’s most significant payment processing licence.

Flutterwave can provide customers with transaction switching and card processing services with this licence. Other benefits include non-bank acquisition, agency banking, and payment gateways.

• The Central Bank of Nigeria (CBN) has accorded a Switching and Processing License to Flutterwave, an African payments technology business.
• Flutterwave can provide customers with transaction switching and card processing services with this licence.
• Flutterwave is permitted to facilitate transactions between banks, fintechs, and other financial institutions thanks to the Switching and Processing licence
• Additionally, the company can handle card transactions, participate in agency banking, and provide payment services directly to customers

Flutterwave is permitted to facilitate transactions between banks, fintechs, and other financial institutions thanks to the Switching and Processing licence.

Additionally, …

Court documents show that Flutterwave Payments Technology ltd is owned by Nigerians Olugbenga Agboola, Adeleke Christopher, Iynoluwa Samuel, and Flutterwave Inc, which is registered in the United States and has an office at 1323 Columbus Avenue, San Francisco.

David Mouko Elizaphan Omaanya, a Kenyan, is also a director, but he doesn’t own any shares. Olugbenga Agboola and Iyinoluwa Aboyeji started the Nigerian company in 2018.

The court heard that between November 2020 and this year, Flutterwave put Sh12.4 billion into a single account at Equity Bank. This shows how much money the start-up was able to handle.

Later, the money from the Equity account was sent to Rem X Ltd, which Nehikhare Eghosasere and Demuren Olufemi Olukunmi own.…