The top payments technology firm in Africa, Flutterwave, has announced that it has purchased money transfer licenses for 13 US states, making it possible for money to be transferred between the US and Africa more quickly, affordably, and securely.
Arizona, Arkansas, Maryland, Michigan, Delaware, Georgia, Maine, Mississippi, Missouri, New Hampshire, Iowa, North Dakota, and South Dakota are among the states that are included in this list. Flutterwave is now authorized to service clients in 29 states across the United States because to its affiliation with another regulated financial institution and its 13 new licenses. State regulators grant money transfer licenses to financial technology companies so they can transfer money.
These licenses make it possible for Flutterwave to provide services like Send App, which makes money transfers between the United States and Africa easier, and for businesses all across the world to use Flutterwave for last-mile payout.
According to Stephen Cheng, Executive Vice President, Global Expansion and Partnerships at Flutterwave, “getting these licenses expands our regulatory footprint, demonstrates our ability to deliver services with safety and soundness, and fosters trust of regulators, partners, and customers.” “We’re expanding and dedicated to meeting the needs of our customers in as many regions as we can, with a sizable African diaspora.”
“These licenses demonstrate our dedication to cooperating with regulators in a variety of markets, adhering to their rules, and guaranteeing the security of client assets. We’ll keep fostering a climate of trust and safety,” Cheng continued.
For the African diaspora, sending money between the United States and Africa can be difficult. With the use of these licenses, Flutterwave can now provide the African diaspora in the United States with access to Send tool, the incredibly user-friendly money transmission tool. They can send money where their hearts are thanks to this.
Olugbenga Agboola, the founder and CEO of Flutterwave, stated, “Our mission is to connect Africa to the world and the world to Africa by simplifying payments for endless possibilities.” “These licenses bring us one step closer to realizing our goal, and we’ll keep building on this accomplishment to guarantee coverage for every state in the union and beyond.”
Flutterwave is dedicated to offering easily accessible remittance services throughout the United States and will keep broadening the scope of its license coverage.