It’s been 9 weeks since we introduced the “Flutterwave Pay With Bank Transfer” payment method and we can tell you, it’s great!

Firstly, do customers use Flutterwave Pay with Bank Transfer?

Simple answer – YES.

In its first 9 weeks, Flutterwave Pay with Bank Transfer has witnessed 20,000+ transactions.

Flutterwave Pay with Bank Transfer is available to Nigerian merchants only and hasn’t been selected by the majority of our merchants (yeah, it does take a while to get merchants to accept new methods).

However, the number of transactions isn’t its real measure of success.

Its real measure of success is its almost 100% success rate not on some, many or most but on ALL Flutterwave Pay with Bank Transfer payment method transactions.

Yes, you heard us right, almost 100% on ALL transactions.

So, what did we do right?

  • Basically, we created a system that allows our merchants to take advantage of a payment method that their customers are used to and love to use.

See: “The value of transactions via the Nigeria Interbank Settlement System Instant payment (NIBSS) system rose to N41.48tn in the first five months of 2019. This is a 36% increase in the value of the transactions when compared with N30.448tn in the first five months of 2018.

  • Poor user education is a major part of transaction failure rate but with Flutterwave Pay with Bank Transfer, customers don’t need much education to complete transactions.
  • Trust. Due to news about card fraud and similar issues, poor trust in card systems does hamper card transactions.

There’s a lot more that’s gone on under the hood and there’s a lot more going on but we’re grateful to our merchants, our merchants’ customers and everyone who’s proving Flutterwave Pay with Bank Transfer right! Here’s to much more!


Published by dikachim

Head, Product Marketing