Virtual Payments

Flutterwave wants to follow eNaira with more e-currencies for merchants: CFO

By David Whitehouse

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Posted on October 6, 2022 04:00

Nigerian fintech unicorn Flutterwave wants to add more e-currencies as payment options for merchants after adopting Nigeria’s eNaira in September, Chief Financial Officer Oneal Bhambani tells The Africa Report.

New payment options could be additional national e-currencies or other crypto currencies, subject to national regulations, Bhambani says. “The future is very bright for the eNaira. If it helps merchants to get more revenue then we will endeavour to integrate them.”

“We follow our customers,” Bhambani says. “As more digital currencies come about, our mission is to make the process seamless for merchants.” The potential for further digital penetration in Africa far exceeds that in the rest of the world, he added.

Flutterwave, based in San Francisco and Lagos, is valued at over $3bn after raising $250m in a Series D funding round in February. Bhambani joined from American Express, where he was CFO of the Kabbage fintech. He became Flutterwave CFO in June, and says his aim is to “position the company for the next stage of growth” ahead of its potential Nasdaq IPO.

  • He declined to give

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