At Flutterwave, we have always believed that Africa is not a country but we make it feel like one with our powerful payment infrastructure that connects African countries with the global economy. Today, we have taken one more step towards achieving our mission of simplifying payments for endless possibilities. We are thrilled to announce that we have received the Payment Service Provider (PSP) License (Enhanced Category) from the Bank of Ghana.
This green light from the Bank of Ghana is a big milestone for us because it enables us to expand our payment offerings across Africa. Now, businesses in Ghana can directly access our payment solutions to receive payments from their customers and transfer money to their suppliers, vendors, employees etc. This achievement highlights our commitment to regulatory compliance and delivery of secure and reliable payment solutions.
Why Ghana?
We knew Ghana was the place to be because of its booming digital landscape. With a deep internet penetration, a tech-savvy youth population and hundreds of local tech startups, Ghana is an ideal environment for innovative payment solutions. The country’s digital payments market is poised for exponential growth. Statista projects that Ghana’s digital payments market will reach $7.46 billion in 2024, with an anticipated compound annual growth rate (CAGR) of 14.81%, resulting in $12.96 billion by 2028. In essence, there’s a massive opportunity for digital payments in Ghana.
Our PSP license positions us to contribute to the growth of digital payments in Ghana by providing businesses with the tools they need to prosper in the digital economy.
Our Payment Solutions For Ghanaian Businesses
Our license enables us to offer different payment solutions tailored to the specific needs of Ghanaian businesses. Our offerings include:
- Collections: You can seamlessly receive payments from your local and international customers using payment methods they are familiar with such as mobile money, debit & credit cards, Apple Pay, Google Pay etc.
- Payouts: You can process single and bulk payouts to your employees, vendors, contractors and business partners in Ghanaian Cedi and other currencies.
- Invoicing: Say goodbye to manual invoicing, automate the invoicing process on your Flutterwave For Business dashboard and see the payments roll in.
- Payment Links: Create payment links to easily and securely get paid by your customers in 50+ currencies.
- One API: Integrate our robust API into your products to process online payments through Flutterwave checkout, direct charge, and plugins such as WordPress and Shopify.
By providing these solutions, we are simplifying payment processes and ensuring Ghanaian businesses can easily pay and get paid. Get started by contacting our sales team here.
Additionally, we are committed to promoting financial inclusion in Ghana. By offering local payment methods such as mobile money, our payment solutions will enable businesses to reach and serve a wider customer base, including those who may not have access to banking solutions.
Frequently Asked Questions
- How Can I Get Started?
You can get started by contacting our sales team here. - What if I already have a Flutterwave For Business account?
If you have a Flutterwave For Business account, login to view your account. If you have completed the KYC process, you can start collecting payments. You can start by creating a payment link and sharing it with your customers, learn how to create one here. If you haven’t completed the KYC process, we encourage you to complete it so you can start processing payments. - What Are The Requirements For Setting Up An Account?
The requirements for setting up a Flutterwave For Business account in Ghana depend on the account category. The core requirements are business registration documents, identification documents, personal bank details etc. Learn more about the requirements for each account category here. - What Types of Businesses Can Use Flutterwave In Ghana?
All legitimate, registered and pre-approved businesses in Ghana can process payments using Flutterwave. Visit this link to see business categories prohibited from using our payment services. - What Are The Payment Methods Available To My Customers?
Your customers can pay you using cards, mobile money (MTN, Airtel/Tigo, Telecel), Apple Pay and Google Pay. - How Much Does It Cost To Sign Up With Flutterwave?
Signing up on Flutterwave is free. - What Are The Transaction Fees For Processing Payments In Ghana?
While signing up on Flutterwave is free, we charge a percentage of the transaction for both collections and payouts. You can learn more about our pricing structure here.
If you have more questions about our payment offerings in Ghana, send an email to hi@flutterwavego.com, our support team is available to answer your questions.
We have the payment infrastructure to help Ghanaian businesses seamlessly process payments and scale because that’s what we’ve always done. Since our inception, Flutterwave has helped over 1.5 million businesses including Uber, Air Peace, Bamboo, PiggyVest, and Netflix, to process payments worth over $32 billion. We can’t wait to support the growth and success of Ghanaian businesses through our payment solutions.
I guess now we can say, Akwaaba Flutterwave. 🇬🇭