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Banks partner Flutterwave, Flywire to boost int’l payments

Banks partner Flutterwave, Flywire to boost int’l payments

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Flutterwave has announced collaboration with Flywire to streamline payment transactions for Nigerian students, patients, and businesses.

The company is a payments technology company that provides seamless and secure payment solutions to banks and businesses across Africa.

On the other hand, Flywire is a provider of global payment and receivables solutions for education and healthcare sectors, connecting over 1,400 businesses and institutions with its customers on six continents.

Flywire processes billions in payments per year from 220 countries and territories, bank transfer, credit card and e-wallet solutions, in over 120 different local currencies.

According to a statement, the partnership with Flutterwave involves the integration of Rave, Flutterwave’s collections solution, which will enable students, patients, and businesses in Nigeria to pay their fees and bills using their local cards and bank accounts.

“Despite the billions of dollars being invested in international education, healthcare and business goods and services by Africans every year, the payment process remains complex and slow, with too much paperwork and costly information gaps,” the Co-founder and Chief Executive Officer, Flutterwave, Iyinoluwa Aboyeji, said.

He added, “Our partnership with Flywire makes it possible for people in Nigeria and all across Africa to make these investments more confidently and hassle-free. We are very proud to partner Flywire to enable more Africans to become citizens of the world.”

Flywire’s Chief Executive Officer, Mike Massaro said, “Together with Flutterwave, we’re removing a lot of that complexity and providing a more seamless payment experience for international students, patients, and businesses.

“Nigerians will now have the convenience of being able to make digital, crossborder payments in their local currency, through electronic bank transfers, credit/debit cards, and mobile payments.”

Massaro added, “Our partnership will also streamline the reconciliation of these payments on the receiving end for schools, hospitals and businesses.”

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