Flutterwave, an African technology company, is partnering with Clear Junction, a provider of payment solutions for regulated institutions.
Flutterwave now has access to Clear Junction’s technical infrastructure and transaction routing. This is a milestone in addressing the evolving needs of migrant workers and families relying on dependable cross-border money flows. Flutterwave taps into Clear Junction’s expertise in facilitating cross-border trade payment and treasury services to enhance its support for African remittance customers making cross-border payments to the UK and EU.
This offering is already available through Swap, Flutterwave’s currency exchange platform built in partnership with Wema Bank and Kadavra BDC. Swap powers several of Flutterwave’s customer-facing experiences, including the Send App, ensuring that users can seamlessly access this service within familiar channels. With Swap, Flutterwave customers can now send money abroad.
This collaboration is expected to drive an increase in completed transactions and enhance customer satisfaction, advancing Flutterwave’s mission to connect Africa to the world and the world to Africa through efficient cross-border payments.
“We’re thrilled to partner with Flutterwave,” said Clear Junction founder and CEO Dima Kats. “The collaboration is a testament to our shared commitment to driving positive change through technology and financial inclusion. In the realm of African remittances, timely access to favourable FX rates is imperative to provide the best value to customers. Individuals and families who rely on these services require speedy access to their funds.
“Clear Junction serves as a vital ally for African remittance companies and fintechs like Flutterwave, offering secure, fast, and cost-effective solutions that overcome the hurdles associated with cross-border payments. By utilizing secure and proven technology, we can ensure that funds reach recipients’ accounts swiftly, fostering business growth and financial inclusion.”
Mayokun Owolabi, head of global expansion and payment partnerships at Flutterwave, added, “We are excited to partner with Clear Junction. Their 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, making it faster and easier to pay for tuition fees and family expenses.”