Flutterwave, one of Africa's leading payments technology companies, has relaunched its remittance platform, the Send App, across multiple U.S. states, acquiring additional licenses.
Send App Update
Recently, Flutterwave has improved the onboarding process for the Send App by implementing a quick ID verification system, decreasing barriers for new users. Additionally, the app has been optimized for U.S.-issued Visa and Discover cards and has introduced enhanced security measures to protect transactions.
License Expansion and New Markets
The company has increased its total number of money transmitter licenses to 34, enabling Flutterwave to operate independently in a growing number of U.S. states. Users from states such as Alaska, Arizona, and Arkansas can now send money directly to Nigeria, Ghana, and Egypt, creating new remittance corridors that strengthen financial ties between the U.S. and key African markets.
Competition and Company's Future
The relaunch of the Send App with expanded licenses is a significant step in Flutterwave's global ambitions. The company bolsters its position in the remittance market but also faces competition from players like Wise and PayPal. Notably, Flutterwave has integrated its Swap feature and secured approval from the Bank of Ghana for inward remittances.
Flutterwave aims to strengthen its market presence through the expansion of licenses and improved features of the Send App, facilitating better financial connections between the U.S. and African countries.
