Flutterwave, Payful team up to simplify Africa payments
African payment processor Flutterwave allied with global transaction platform Payful to streamline large-value transfers throughout the region. The agreement allows Payful’s business clients to accept funds through local channels and complete settlements internationally using Flutterwave’s payment network, which handles security and regulatory compliance.
Payful provides technology that supports substantial transactions and international money movement for companies worldwide. Expanding operations into Africa presented obstacles from disparate payment systems, expensive traditional transfer methods and difficulties managing foreign exchange rates alongside varying legal requirements. Flutterwave was selected for its regulatory knowledge and continent-wide infrastructure accessible through one application programming interface.
The arrangement centers on Flutterwave’s Virtual Account system, which processes collections for significant payments. After connecting through the interface, Payful receives virtual accounts enabling merchants to gather payments through domestic bank transfers rather than card networks. Customers send money to designated virtual accounts while Flutterwave manages settlements via licensed financial partners. The collaboration ensures transactions comply with regulations across all markets where Flutterwave holds operating permissions, giving merchants assurance that their business follows local financial rules.
