Flutterwave Teams Up With Microsoft to Improve Financial Inclusion Worldwide
- Flutterwave has partnered with Microsoft to improve digital inclusion in Africa
- The partnership is expected to create opportunities for different enterprises
- The development is also expected to open up seamless payments businesses globally
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Microsoft, a multinational technology firm based in the United States, has teamed with Flutterwave, a fintech company based in Nigeria, to promote financial innovation and digital inclusion in Africa.
A few months ago, Legit.ng reported that Flutterwave emerged as one of Nigeria’s globally renowned brands in 2022.
According to Lillian Barnard, president of Microsoft Africa, the partnership is significant because many people still struggle to obtain financial services to pay their bills.
She said the partnership has also created opportunities for growth and success of other enterprises.
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Partnership to open doors for millions of payment
According to Bernard, Microsoft and Flutterwave are working together to bring about financial inclusion and the digital revolution, ensuring that millions of payments are made to businesses frictionlessly.
She stated that half of the 1.4 billion people in Africa are underbanked, underserved, and unbanked and that this must not be allowed to continue. She also noted that digital inclusion and financial inclusion are critical for the success of African enterprises.
Barnard claims that Flutterwave will be able to reach millions of retailers worldwide by utilising the Microsoft OpenAI platform and service.
According to her, Microsoft wants to empower and invest in 10 million Small and Medium-Sized Businesses (SMEby 2025 by providing them with the necessary infrastructure, tools, and support and helping them form strategic alliances.
She said fintechs are assisting SMEs and the unorganised sector, which generates the majority of jobs in the nation—roughly 40% of GDP is generated by these sectors, accounting for seven out of ten jobs.
Fintechs assist in job creation
Ola Williams, country manager at Microsoft Nigeria, noted that 80% of Nigerians have access to mobile devices, which has fueled the fintech industry’s expansion and increased consumer use of mobile payments.
She added that the flow of investment in fintech contributes to 36% of the economy's growth.
Olugbenga Agboola, Chief Executive Officer at Flutterwave, noted that the firm has always strived to touch lives by simplifying payments and connecting dreams to opportunities.
He said:
“Today, as we join hands with Microsoft, it feels like a family reunion of visionaries and go-getters. The excitement in our team is palpable because this partnership isn’t just about transactions – it’s about transformation,”
“Your money is safe”: Flutterwave denies claims hackers stole N2.9bn from its platform
Meanwhile, Legit.ng had earlier reported that Flutterwave denied allegations that hackers stole N2.9bn from its platform and distributed the funds to 27 different bank accounts.
On Sunday, March 5, 2023, The Punch and several other news outlets reported that the leading fintech company was a victim of cyberattacks.
However, in a statement obtained by Legit, Flutterwave stated that the allegations are baseless and that the company’s security measures are robust enough to prevent such attacks.
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Source: Legit.ng
