'This license is a game changer for us and our customers and we can’t wait for you to enjoy all that it offers,' the fintech firm said. payments fintech cbn
The Nigerian fintech Flutterwave has said the switching and processing license it recently received from the Central Bank of Nigeria allows it to “deliver an improved experience to our customers.” The new license is said to allow Flutterwave to “connect every single store of value in Nigeria to global commerce.”The Nigerian fintech unicorn, Flutterwave, has been granted a switching and processing license by the Central Bank of Nigeria , a statement released by the payments firm has said.
The involvement of such intermediaries, in turn, meant the processing and confirmation of transactions was cumbersome. As explained in the payments firm’s latest blog post, the new license gives Flutterwave greater control while reducing constraints. Flutterwave added that the license now makes it possible for the firm to introduce new products and services.The fintech’s blog post also explained why getting the central bank’s coveted license is an important milestone for Flutterwave. The blog post explained:
The announcement by Flutterwave that it has received yet another license from the CBN comes just a few weeks after the governor of the Kenyan central bank alleged that the fintech was operating illegally. Asby Bitcoin.com News, the Central Bank of Kenya subsequently ordered Kenyan financial institutions to end business engagements with Flutterwave.
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