In a groundbreaking move for African e-commerce, Flutterwave, the continent’s leading payments technology company, has announced a pivotal partnership with American Express. This collaboration, championed by Flutterwave CEO Olugbenga ‘GB’ Agboola, enables online merchants in Nigeria to accept payments from American Express Card Members, marking a significant stride in cross-border trading and digital payments across Africa.
The initiative, set to roll out initially in Nigeria with plans for expansion to Tanzania, Rwanda, Ghana, and Uganda, opens up a vast new customer base for Flutterwave merchants. American Express cardholders, whether wielding consumer, business, or corporate cards, can now make direct payments to e-commerce businesses utilizing Flutterwave’s platform in Nigeria.
Flutterwave CEO Agboola emphasized the company’s mission to connect Africa to the global economy through innovative payment solutions. “This collaboration is a testament to our commitment to providing diverse payment options that cater to shoppers and businesses,” Agboola stated. He highlighted the partnership’s dual benefits: offering American Express cardholders more shopping options across Africa while empowering local businesses to tap into a global customer base.
Integrating American Express payments into Flutterwave’s system is poised to streamline transactions, making the process more efficient for cardholders and enhancing the overall experience for e-commerce ventures. This move aligns with Flutterwave’s ethos of enabling businesses to “start locally and sell globally,” as articulated by the Flutterwave CEO.
This partnership represents a strategic expansion of American Express’s global network footprint in Africa. Briana Wilsey, Vice President and General Manager of Global Network Services EMEA at American Express, described the collaboration as a “win-win,” noting that it increases the number of locations where American Express Card Members can use their cards in Nigeria and beyond.
The Flutterwave-American Express alliance builds upon a series of expansionary moves by both companies. In May 2024, American Express introduced four new credit cards in Nigeria, signaling its commitment to the African market. Meanwhile, Flutterwave has been actively broadening its global reach, recently securing a Payment Service Provider license from the Bank of Ghana and expanding operations into Mozambique.
Flutterwave’s track record speaks volumes about its impact on the African fintech landscape. The company has processed over 630 million transactions, amounting to over $31 billion, serving high-profile clients like Uber and Air Peace across various industries. This latest partnership with American Express further cements Flutterwave’s position as a dominant force in facilitating global-scale operations for businesses in Africa and other emerging markets.
As Flutterwave CEO Agboola looks to the future, he envisions this partnership as just one of many initiatives to ensure more people worldwide can utilize Flutterwave for payments in Africa. The collaboration not only enhances payment options but also promises to make the entire process faster and more straightforward for all parties involved.
This strategic move by Flutterwave underscores the company’s commitment to innovation and its role in shaping the future of e-commerce in Africa. By bridging the gap between local merchants and global consumers, Flutterwave is not just facilitating transactions; it’s fostering economic growth and opening new avenues for African businesses to thrive on the world stage.
As the digital payment landscape continues to evolve, the partnership between Flutterwave and American Express is a testament to the power of collaboration in driving financial inclusion and economic development across the African continent.