Browsing: Flutterwave Payments Technology Ltd

The Central Bank of Nigeria (CBN) has accorded a Switching and Processing License to Flutterwave, an African payments technology business. This is widely regarded as the CBN’s most significant payment processing licence.

Flutterwave can provide customers with transaction switching and card processing services with this licence. Other benefits include non-bank acquisition, agency banking, and payment gateways.

  • The Central Bank of Nigeria (CBN) has accorded a Switching and Processing License to Flutterwave, an African payments technology business.
  • Flutterwave can provide customers with transaction switching and card processing services with this licence.
  • Flutterwave is permitted to facilitate transactions between banks, fintechs, and other financial institutions thanks to the Switching and Processing licence
  • Additionally, the company can handle card transactions, participate in agency banking, and provide payment services directly to customers

Flutterwave is permitted to facilitate transactions between banks, fintechs, and other financial institutions thanks to the Switching and Processing licence.

Additionally, …

  • The High Court has frozen more than US$50 million (KShs 6.2 billion) in 62 bank accounts belonging to Nigerian start-up Flutterwave and four Kenyans.
  • Flutterwave says that it gives merchants payment technology and processes payments made on the Web, mobiles, ATMs, and at points of sale around the world
  • ARA thinks that money was sent from different countries to local bank accounts owned by Flutterwave

The High Court has frozen more than US$50 million (KShs 6.2 billion) in 62 bank accounts belonging to Nigerian start-up Flutterwave and four Kenyans.

The court ruling comes on the suspicion that the money was proceeds of fraud and money laundering.

KCB, Equity Bank, Co-operative, EcoBank and Guaranty Trust Bank (GTB) are the banks where the accounts of the company and the four Kenyans were frozen. Kenya’s Assets Recovery Agency (ARA) asked the court to stop the money from being moved or taken out until …