Flutterwave has received a Payment Systems Operator (PSO) license from the Bank of Uganda. This license allows businesses in Uganda to use Flutterwave’s payment solutions.
Ugandan businesses can now make single and bulk payments to suppliers, employees, and partners using Flutterwave.
Additionally, Ugandans living abroad can send money back home through Flutterwave’s platform. This new development marks a significant step for the company’s growth in Uganda’s digital economy.
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Flutterwave Enabling Secure and Compliant Payment Solutions
With the PSO license, Flutterwave commits to following all relevant laws and regulations in Uganda. The company recognizes Uganda’s rapidly growing digital economy, highlighting the increasing use of smartphones, mobile money, and the impact of remittance inflows.
Flutterwave’s services in Uganda will include sending and receiving payments, invoicing, API solutions, and payment links.
The company has already processed over 630 million payments, valued at more than $32 billion, for over 1.5 million businesses globally.
Expanding Across Africa
Flutterwave’s founder and CEO, Olugbenga ‘GB’ Agboola, called this license approval a significant achievement toward a financially connected Africa.
The company also emphasized its dedication to meeting regulatory standards and building a strong partnership with the Bank of Uganda.
The PSO license in Uganda comes shortly after Flutterwave’s acquisition of payment licenses in Mozambique and Ghana. These licenses further expand Flutterwave’s reach across Africa.
Additionally, the company has enabled its online merchants in Nigeria to accept American Express payments, with plans to extend this service to Tanzania, Rwanda, Ghana, and Uganda.