Flutterwave Strike Partnership Deal with MTN MoMo Service in Africa

Flutterwave, one of Africa’s leading payments technology company has announced a strategic partnership with MTN Group, Africa’s largest telecommunications provider, through a mobile money partnership. This new partnership will enable Flutterwave to offer MTN Mobile Money as a payment method to its business customers.

Consequently, Cameroon, Cote d’Ivoire, Rwanda, Uganda, and Zambia will receive payment via MTN MoMo through Flutterwave. MTN Mobile Money is a secure electronic service that enables MTN mobile money wallet holders to store funds, send and receive money, make payments and do several other transactions simply using their mobile phone. At the end of Q2 of 2021, MTN MoMo had 48.9 million active users and 581 1514 merchants. However, Africa has witnessed an explosion in mobile penetration with smartphone adoption in recent years. According to the GSMA, Africa will hit the half a billion mark of unique mobile subscribers this year, and the continent will reach 50% subscriber penetration by 2025. while according to Statista, sub-Saharan Africa alone is responsible for more than 45% of the world’s mobile money accounts, with the number of account holders exceeding half a billion by 2020.

Through this partnership, MTN and Flutterwave will positively contribute to the rapid penetration of mobile money usage in Africa, improving local economies and livelihood and creating opportunities for individuals and businesses across the continent. According to the Founder and CEO of Flutterwave Olugbenga comment:

“Africa has one of the highest growth rates of mobile money adoption and eCommerce 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 eCommerce 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.”

Interestingly, these two leading giant companies in their respective fields have signed a strategic partnership to deliver payments solutions to their customers using mobile money. It is, of course, a massive achievement for both brands. At the same time, it is an integral part of the gaming and betting industry due to the enormous acceptance of mobile money in the betting and gambling industry for bettors.

Who prefer to complete transactions on their favourite bookmakers and the penetration of flutterwave in the Africa iGaming industry is quite a welcome development for sports betting companies to activate flutterwave payment method in this countries they can access MTN MoMo service in Africa.

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