African payments gateway, FlutterWave, has announced a partnership with MTN’s mobile money service (MoMo) which will see users able to make payments to businesses using their mobile money accounts via FlutterWave.
The partnership will introduce MoMo payments, via Flutterwave feature, in the following markets:
MTN previously reached an agreement for a similar service in Rwanda and Uganda.
FlutterWave is looking to MTN’s 48.9 million active users (2020) together with 585,514 merchants.
MoMo is described as a mobile money service providing consumers and businesses with an electronic wallet enabling electronic transfers and payments as well as access to digital and financial services.
FlutterWave sees MoMo as a way to expand its service to a greater user base, but it also says that this helps deepen the already impressive rate of mobile money penetration across the continent.
Speaking on the partnership, Olugbenga ‘GB’ Agboola, CEO, FlutterWave, said:
“Africa has one of the highest growth rates for mobile money adoption and e-commerce in the world. It makes sense that we help provide a seamless payment method to support and ensure African businesses reap the full benefits of the e-commerce boom in the region. Our goal has always been to grow a new wave of prosperity in Africa by creating more avenues for businesses in Africa to accept payments. With this partnership, we can achieve this while creating endless possibilities for our customers.”
– CEO, FlutterWave
Serigne Dioum, the MTN Group Chief Digital and Fintech Officer, had this this to say on the partnership:
“As we progress on our journey to becoming the largest fintech platform in Africa, we will empower millions of businesses to embrace e-commerce in our markets to accept digital payments from MoMo consumers. We believe this is an enabler to accelerating digitized payments in Africa. Building strong ecosystems through partnerships is central to our platform strategy and we will continue to invest in expanding the reach of our platform to consumers and businesses in Africa.”
– Group Chief Digital and Fintech Officer, MTN Group