Flutterwave joins IATA payment platform to serve Africa
Fintech Flutterwave has joined the International Air Transport Association's (IATA) payment platform to facilitate travel to sub-Saharan Africa.
With this integration, airlines can process customer payments through cards, bank transfers, mobile money, and other payment modes available on Flutterwave.
Flutterwave provides a payment infrastructure for global merchants and payment service providers across the continent.
The fintech has processed over 400 million transactions above $25 billion and serves over one million businesses, including customers like Uber, Airpeace, Bamboo, and Piggyvest.
Last week, Flutterwave announced joining the IATA Financial Gateway (IFG) - an omnichannel payment orchestration and management platform dedicated to the airline industry.
The platform allows airlines to receive local payments from local markets through all their distribution channels.
In a statement, Flutterwave said IATA has some 290 international airlines and this partnership enables them to expand their operations in Africa while receiving bookings and payments from customers in Africa using local and international payment methods.
Olugbenga Agboola, Flutterwave CEO and founder, said: “According to IATA, Africa will become one of the fastest growing aviation regions in the next 20 years with an annual expansion of nearly 5%.
“How can we further accelerate this growth? One way is to ensure airlines can easily set up operations across the continent and seamlessly receive payments. This partnership with IATA solves the problem of payments for global airlines venturing into Africa. We hope that this encourages more global airlines to expand into Africa.
Muhammad Albakri, IATA's senior VP, of financial settlement and distribution services, added: "The IATA Financial Gateway supports the availability of new payment options in many markets.
"We welcome participation of Flutterwave to bring secure and innovative payment methods to airlines, travel resellers and the travelling public in Africa."