Flutterwave Secures PSP (a Payment Licence) in Ghana
The Licence will let Flutterwave to work independently, without third-party services, simplifying payment processes for businesses and customers.
Flutterwave Secures PSP (a Payment Licence) in Ghana
The Bank of Ghana (BOG) has granted Flutterwave, a Nigerian fintech, an Enhanced Category Payment Service Provider licence, allowing the company to operate independently without relying on third-party services. This licence will streamline payment processes for businesses and customers in Ghana. Additionally, it will enable Flutterwave to support other licensed fintech companies by providing essential payment services, thereby fostering a more integrated and efficient financial ecosystem in the country. Flutterwave's expansion into Ghana marks a significant step in its African operations, allowing the company to offer a full range of payment services directly within the country. Ghana is an attractive market for Flutterwave due to its stable democracy, tech-savvy youth, and high mobile internet penetration of 71%, making it ripe for rapid digital adoption. The digital payments market in Ghana is projected to reach $7 billion in 2024, with an expected annual growth rate of 15.78%, p…
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