Today, Flutterwave unveils its FinTech license to operate in Egypt to evade regulatory scolds for defaulting policy in the absence of a license. The Nigerian FinTech unicorn acquired the license to operate as a Payment Service Provider with significant electronic transfer solutions in Egypt due to its capability weighed by the Egyptian regulatory system.
Flutterwave Regional Manager, North Africa in Expansion & Partnerships, Egypt, Aalaa Gamal shared comments about his FinTech payment solutions expansion to operate in Egypt backed by the regulatory policies. It is official to access the Flutterwave payment system to wire cash for cross-border and other international destinations that are currently available in Egypt.
“We’re excited to receive the payments services provider and facilitator licenses in Egypt. The licenses will enable us to be the go-to payment processor and digital transformation partner for global settlements in Egypt, which enables our customers to expand quickly within or outside of the country. This, for us, is the beginning of other strategic wins in the North Africa and Middle East regions.”
Gamal’s comments denote that the FinTech unicorn is keen on penetrating Africa starting from West Africa and cutting across East Africa via Kenya. The Nigerian FinTech unicorn has acquired its tickets to influence the local payment solutions industry with instant payment solutions tier E2E system per user privacy discretion.
The Egyptian regulatory system is optimistic about adding an African FinTech unicorn to its money market. Flutterwave has a 75% chance of generating massive revenue which is optimal for the government to clickbait in terms of the government tax policy.
Flutterwave’s expansion scheme has crossed borders and landed in North Africa, the ideal region for the Nigerian FinTech unicorn to penetrate Africa. Flutterwave Egypt has reportedly added the local currency to its list of diasporic currencies available to process cross-border payments.
Flutterwave presence in the Egyptian FinTech marketplace serves as a digital and financial inclusion for the Natives within the country. The Nigerian FinTech unicorn presence in North Africa leverages diasporic transactions without defaulting regulatory policy.
Before the Egypt expansion, Flutterwave introduced its payment solutions as an instant provider to the Kenyan population. The Nigerian FinTech company faced a lawsuit from the inland regulatory system for defaulting on its digital policy. Flutterwave and the Kenyan regulators recently called a truce unfreezing the Nigerian FinTech unicorn assets and continuing operating payment service provision in Kenya.