Flutterwave has partnered with Alipay of China in a bid to expose Africa’s market value to Chinese buyers.
The partnership allows Flutterwave, a leading payment technology platform in Africa, to accept payment from customers on the continent and abroad – strongly leveraging on Alipay’s global network of close to a billion active users, per Alibaba’s latest earnings report.
“With a large portion of Alipay’s network situated in China, the shrewd move will see Flutterwave capture payment activity estimated at $200 billion in China-Africa trade,” Flutterwave Chief Executive Officer, Olugbenga Agboola, said.
He added: “It will mean that all our merchants can accept Alipay as a payment method. This isn’t an unprecedented move. The answer to why we’re opening up Africa to the Chinese buyers lies in what we have set out to do since inception.”
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What this means: Flutterwave will now be able to complete payment solution for Africans to thrive in the global economy, and this is exactly what the partnership with Alipay has achieved, as the complete payment solution would first require inter-connectivity within Africa.
Expanding new frontiers: Flutterwave has now joined Uber, Wakanow, Arik Air amongst other multinational businesses to close the trading gap between Africa and the rest of the world.