SAN FRANCISCOand LILONGWE, Malawi, in 2023 November 9 /PRNewswire/ — Flutterwave, African a leading payments technology company announced today that it has received official approval to facilitate the sending of international remittances Malawi. an international money transfer operator (IMTO) license was granted October 19, Thursdayand the payments company will be able to process remittances from Malawians and other Africans sending money home.
Global remittances are expected to grow by 1.4 percent, according to World Bank reports 656 billion dollars In 2023, with millions of Malawians and Africans living and working abroad, the issuance of the IMTO license enables Flutterwave to effectively channel remittances to Malawiultimately stimulating economic growth, stabilizing the exchange rate, enabling investment in infrastructure development, creating jobs and supporting small businesses.
With Flutterwave’s international remittance solution, Send App, residents are coming Malawi can now enjoy benefits that include competitive exchange rates, faster money transfers, convenient mobile and web platforms, the ability to transact in 150 currencies, 24/7 customer support, and strict adherence to the highest security and compliance standards. them from fraudfraud and other financial risks associated with international money transfers.
Commenting on the license, Olugbenga “GB” Agboola, Founder and CEO of Flutterwave, said:
“At Flutterwave, we understand the important role we play in enabling individuals and businesses to seamlessly navigate the financial world. This expansion underscores our commitment to customer satisfaction by bringing the world closer to their fingertips.
We are grateful to the Reserve Bank Malawi for trusting us. We look forward to this amazing journey and remain committed to providing the best possible financial services to the residents of the city Malawi“.
The International Remittance License validates Flutterwave’s dedication to compliance, transparency and customer satisfaction. Also, it reflects the Reserve Bank Malawi a strong commitment to promoting financial inclusion and promoting the digital economy. Therefore, customers can expect smooth and reliable use of Flutterwave services.
Flutterwave is a leading payments technology company that empowers businesses around the world to scale their operations Africa and other emerging markets through a platform that enables domestic and cross-border transactions through a single application programming interface (API). Flutterwave processed 550 million transactions exceeding USD 32 billion dollars and serves over 2,000,000 businesses, including customers like Uber, Airpeace, Bamboo, PiggyVest, and more. The company’s core strength is connecting businesses to a variety of local and international payments so they can expand globally. It also enables cross-border transactions from the diaspora to African countries through the SendApp product. Flutterwave processes payments through multiple payment methods, including local and international cards, mobile wallets, bank transfers and Google Pay. The company has infrastructure in 34 African countries. For more information on Flutterwave’s journey, visit www.flutterwave.com.
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