Flutterwave announced on Wednesday that users can now accept payments via the Central Bank of Nigeria (CBN)’s first National Domestic Card Scheme, AfriGo. This development will simplify payments for clients and open up new business prospects.
Due to AfriGo’s expanding user base, more Nigerian clients are now provided with extra payment options, which will increase the growth potential of their businesses.
Nigerians can pay with naira both online and in person via the AfriGo card scheme, which is similar to Visa or MasterCard. It is intended to make payments hassle-free, more inclusive, and broadly available to all Nigerians.
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“By partnering with the CBN, we’ve made it possible for Flutterwave businesses like you to accept payments from AfriGo cardholders. This means more options for your customers to pay and more opportunities for you to boost your revenue,” Flutterwave stated.
AfriGo to compete with Mastercard, Visa, UnionPay, others
Nigeria may now compete globally in the card scheme market with well-known schemes like Visa, Mastercard, UnionPay, and others thanks to the deployment of AfriGo.
Additionally, this lowers the prestige of being on par with its rivals and the foreign exchange risks and pressures related to multinational card schemes.
Benefits of AfriGo to Flutterwave businesses and clients
Using AfriGo to accept payments as a Flutterwave business, can provide clients with more payment options, thereby increasing the likelihood that the business will generate more income. It provides clients with more choices for how to pay with naira.
Since the card is accessible to all Nigerians, there are no limitations on who can use it to make payments, not only online but also at point-of-sale (POS) machines and ATM withdrawals.
When businesses accept AfriGo payments, clients will benefit from:
Exclusive deals: clients will have first dibs on a range of deals and discounts that are only available to AfriGo cardholders.
Secure payment processing: customers’ payments are safe and their privacy is guaranteed thanks to AfriGo cards’ end-to-end encryption and security.
Compatible with all major payment platforms: clients can easily make payments at any time and from any location with AfriGo cards since they are compatible with POS terminals and all major Nigerian websites.
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Getting started with AfriGo
Users must have completed the Know Your Customer (KYC) procedure and enabled card payments on their Flutterwave dashboard in order to begin accepting AfriGo payments.
Clients’ AfriGo cards will be instantly detected when used to make payments. This implies that consumers don’t have to take any additional action; they may simply enter their card information as usual, and the payment will be processed normally.