International payment giant PayPal and African fintech company Flutterwave waives off cross-border payment charges for African merchants as part of the promotional campaign encouraging international payments in Africa.
Ripple client Flutterwave and payment giant PayPal are promoting international payments for African merchants to sell their goods and services to the overseas market by running huge discounts for them.
As part of the promotional campaign, users of Flutterwave will be able to receive $500 worth of payments from international customers via PayPal without any additional charges. Prior to the offer, merchants were usually charged 4.4% plus $0.30 per transaction.
As part of the offer, the rebate will be active for 2 months from the date merchants accept the rebate offer where Flutterwave merchants won’t be charged an international payment fee for their first $500 worth of cross-border payments during the rebate period.
In addition to the discount, Flutterwave will be supporting merchants with a marketing offer worth up to $500 at no extra cost which includes; a feature in the Flutterwave weekly newsletter, co-marketing blogs on the Flutterwave website including social media features, etc.
Meanwhile, Flutterwave merchants can attract and acquire over 377 million PayPal users worldwide at no cost while providing a better customer experience.
The two companies formed a partnership back in March to allow Flutterwave's merchant in Africa to conduct payments via the Pay with PayPal feature and already cover several African countries such as Nigeria, South Africa, Kenya, Uganda, Ghana, and Zambia.
Due to the lack of traditional banking facilities, third-world countries are now relying on blockchain and cryptocurrency for business transactions now more than ever.
At the same time, there are several opportunities in Africa when it comes to innovation and investment. This has been even realized by several of the world’s major economies as Africa is closely watched as the next big growth market. For instance, over the years, Africa has shown its potential to progress as the country’s ICT and venture capital startup ecosystem is developing at a rapid pace.