Flutterwave is providing businesses in South Africa with zero transaction fees for all payments they make or receive on Flutterwave for the next three months.
The move by the African payments technology company follows the recent events in the country that has led to the disruption of small businesses, their supply chain and operations.
SMEs in South Africa have become key contributors to GDP over time, generating 22% of turnover in 2019 according to AFS sources.
To support the South African economy and these businesses, Flutterwave is offering zero transaction fees for all payments they make or receive on Flutterwave.
Additionally, Flutterwave has also donated funds to two not-for-profit organisations, Rebuild SA Fund and Rebuild South Africa Organisation which have been instrumental in providing support for local communities and businesses in South Africa.
This will help small businesses rebuild, restock and restart operations.
Flutterwave, whose vision is to grow local businesses in Africa into global brands, provides simplified e-commerce and payments solutions for businesses to this effect.
Munya Chiura, Head of Growth for Africa, Flutterwave, explained the reason behind this initiative indicating that Small businesses are the lifeblood of the South African economy.
“We’re supporting small businesses because we believe that in doing so, we help people rebuild and get back on their feet. We also believe that this will help the nation on the journey to a fast recovery after the recent events.”
Flutterwave is a payments technology company that helps businesses all over the world expand their operations in Africa and other emerging markets, through a platform that enables cross-border transactions via one API.
Flutterwave has processed over 140 million transactions worth over $9 billion to date and serves more than 300,000 businesses including customers like Uber, Flywire, Booking.com, etc.
The Company’s key advantage is international payment processing in 150 currencies and multiple payment modes including local and international cards, mobile wallets, bank transfers, Barter by Flutterwave etc.
Flutterwave has an infrastructure reach in over 33 African countries, including South Africa, Uganda, Kenya, and Nigeria.