African fintech Flutterwave is partnering with Clear Junction, a London-based global payments provider, to enhance cross-border payments between Africa and the United Kingdom and European Union.
With this collaboration, Flutterwave has access to Clear Junction’s technical infrastructure and transaction routing, enabling the fintech to facilitate cross-border trade payment and treasury services, and remittances.
The offering is being made available through Swap, Flutterwave’s currency exchange platform built in partnership with Wema Bank and Kadavra BDC. Swap also powers several of Flutterwave’s customer-facing experiences, including the Send App.
According to Clear Junction, in the realm of African remittances, timely access to favourable foreign exchange rates is vital to provide good value to customers, as individuals and families who rely on these services often require speedy access to their funds.
Mayokun Owolabi, head, global expansion and payment partnerships at Flutterwave, said: “Their [Clear Junction] expertise in multi-currency payments is crucial to our mission of connecting Africa to the world. With this partnership, our new and existing retail customers can now expect a more streamlined and efficient way to send money to the UK and EU.”
Dima Kats, CEO and founder of Clear Junction, commented: “The collaboration is a testament to our shared commitment to driving positive change through technology and financial inclusion.”
He added: “By utilising secure and proven technology, we can ensure that funds reach recipients’ accounts swiftly, fostering business growth and financial inclusion.”
