Flutterwave obtains new Egypt payments licences

Two new licences, Payment Services Provider and Payments Facilitator, have been granted to leading payments technology company, Flutterwave, by the Egyptian authorities.

A statement issued by the firm disclosed that these licenses would enable it to act as an official payment service provider in the country, collect payments on behalf of its customers and settle payments locally and globally.

These licences will also allow the organisation to deploy Flutterwave for a business suite of products, including store, payment links, invoices, and checkout in Egypt.

Flutterwave, as a result of these licenses, becomes one of the few payment service providers in Egypt with both local and global settlement capabilities.

Flutterwave facilitates cross-border transactions in multiple currencies for global companies, including Uber, and the new licenses will help the company support international businesses entering the Egyptian market or growing their operations in the country.

The company will also be in a strong position to empower businesses based in Egypt to expand internationally, in addition to creating new jobs in the country through empowering local businesses.