Flutterwave, an African payments technology business, has signed a five-year strategic technology agreement with Microsoft to build its next-generation platform on Azure.
This platform will power payment infrastructure on the African continent and beyond.
The company says that this agreement shows its dedication to giving businesses and individuals in all of Africa access to global-grade services and driving digital transformation around the world.
With Flutterwave and Microsoft’s plans to power payments to and from Africa, this partnership is a fantastic chance to help the area grow.
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The founder and CEO of Flutterwave, Olugbenga Agboola, said, “Microsoft has been a great partner. They give us a platform that lets us always give our clients high-quality services.”
“As we handle high-volume payment processing, especially during peak times, the robustness, reliability, and scalability of Microsoft Azure become crucial. So, it makes sense for us to work with Microsoft even more. It means that Flutterwave will continue to drive the change in global commerce, taking full advantage of the wide range of services given by Microsoft, he said.
Through this partnership, Flutterwave will support the fast growth of transactions handled on the Flutterwave platform for global clients like Uber, Netflix, and Microsoft. This will solidify Azure’s role in making payments easy, reliable, and safe.
Key Flutterwave products like Flutterwave for Business, Send by Flutterwave, Flutterwave Store, and Flutterwave for Fintech Platform are being created and moved to the powerful Azure cloud platform. Flutterwave also uses the Azure OpenAI Service, which lets it offer its products to millions of retailers around the world.
Gurbhej Dhillon, Flutterwave’s Chief Technology Officer, said, “Our development on Microsoft Azure has given Flutterwave a strong foundation.” “” heir tool gives us a lot of power as developers, which we use to help our clients. “As we look to the future, we’re excited about the possibilities of scaling with Azure OpenAI Service, which will let us serve even more merchants around the world,” Dhillon said.
Mike Gaal, the general manager of Microsoft Corporation, said, “We are happy to support Flutterwave’s core operations with Microsoft Azure. We’re happy that this new way of working together will help them grow and be more creative.
“Our goal is to give everyone and every organization on the planet the tools they need to do more.” Working with Flutterwave will get us one step closer to achieving our mission in Africa,” Gaal said.
Flutterwave utilizing Azure?
Cloud Hosting: Azure provides a safe and reliable cloud infrastructure for the payment platform’s apps and services. Virtual machines (VMs) and container services like Azure Kubernetes Service (AKS) deploy and manage the platform’s backend services, databases, and APIs.
Scalability and Elasticity: Azure scales resources automatically based on demand. The platform uses Azure’s auto-scaling features to automatically distribute resources to handle high transaction volumes during peak times and scale down during low activity, ensuring optimal performance and cost efficiency.
Data Storage and Management: Azure offers data storage solutions for payment platforms. Transaction records, logs, and documents can be stored in Azure Blob Storage. Transaction data may be stored and accessed with low latency and high availability in Azure Cosmos DB, a globally distributed, multi-model database service.
Security and Compliance: Payment systems handle sensitive client data and must comply with industry laws like PCI DSS. Azure Security Centre, IAM, NSGs, and encryption at rest and in transit protect data and comply with requirements.
Analytics and Machine Learning: Azure’s services for analytics and machine learning can provide valuable data insights. For fraud detection, risk assessment, and consumer behaviour analysis, Azure Machine Learning can create and use predictive models. Azure Data Lake Analytics and Azure Databricks process and analyse massive datasets for business information and report development.
interaction and APIs: Azure’s Logic Apps, Service Bus, and API Management services make it easier to interact with third-party services, payment platforms, and external systems. The payment platform may automate operations and build and administer APIs using these services.
Disaster Recovery and Business Continuity: Azure’s worldwide footprint and built-in disaster recovery offer high availability and data redundancy for payment platforms. Azure Site Recovery replicates and fails over key systems and data to a secondary location, minimising catastrophic downtime.
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Azure offers:
Azure HSM: This service securely manages payment processing cryptographic keys.
Bot Service: This service can construct payment chatbots for customers.
Cognitive Services: These services can detect fraud and assess the risk of payment processing.