Alipay, Flutterwave Team Up on China-Africa Payments
Hangzhou-based firm, Alibaba has expanded its footprints in Africa by partnering Lagos-based fintech startup Flutterwave, and also Silicon Valley to provide digital payment between Africa and China using Alipay and TechCrunch.
The partnership came as a result of the CEO Olugbenga Agboola‘s participation in Alibaba’s e-founders fellowship program in the region.“Because of that I was in China to do meetings with Jack Ma and the only ask I had from that trip is that I want to be the Africa payment infrastructure that plugs directly into Alipay’’ he said.
This event also avails the Chinese e-commerce giant firm the opportunity to widen its merchant network in Africa thereby allowing established companies in China benefit from Africa’s flourishing fintech sector and rapid digitalization of payment.
Furthermore, according to Agboola, due to this partnership, Flutterwave’s 60,000 merchants will be able to accept Alipay as a payment method and tap into the platform’s vast pool of over 1 billion users.
Most importantly, as China and Africa’s partnership have become increasingly common, owing to trade activity between the two regions, which hit $200 billion in value last year, Flutterwave’s 60,000 merchants will be able to accept Alipay as a payment method
Alipay, most noteworthy remains a digital wallet and payments platform, while Flutterwave provides payment solutions for merchants, allowing businesses and commercial lenders to process payments across the continent smoothly and cheaply.
Earlier, Flutterwave entered a similar partnership with Visa under GetBarter a payment app that allows Visa cardholders and non-existing cradholders carry out payments.