Johannesburg: AfricUpdate – News Desk
Flutterwave, a prominent financial technology company, has announced a new collaboration with iPaylinks, an East Asia-based cross-border payments company. This partnership aims to streamline the trade corridor between Africa and Asia by providing a more efficient, secure, and seamless payment solution for businesses. iPaylinks, which specializes in one-stop payment solutions for Asian exporters, will now be able to address the significant challenges of collecting payments from African importers.
The partnership leverages Flutterwave’s Virtual Accounts solution to overcome the complexities of B2B payments between the two continents. Previously, Asian exporters and payment companies faced operational, treasury, and counterparty risks due to the fragmented and complex African financial landscape. Traditional methods often resulted in slow settlements, unpredictable exchange rates, and a lack of a single, reliable partner. By using Flutterwave’s solution, iPaylinks’ customers are provided with virtual accounts in local African currencies.
This makes the payment process feel like a simple local bank transfer for African importers, while ensuring iPaylinks receives its funds in its preferred currency, with predictable and transparent pricing. This collaboration not only simplifies the payment process but also addresses the crucial issue of FX risk management and improves settlement times, with funds being settled within one to two days.
For iPaylinks, this partnership ensures compliance and security while enabling its customers to focus on their core business. For Flutterwave, it reinforces its position as a key player in powering global trade with Africa through its robust, single-API infrastructure. The move is a testament to the growing demand for simplified and efficient cross-border payment solutions that unlock the vast economic opportunities between Africa and Asia.
