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Bank of Ghana grants Flutterwave Payment Service Provider licence to operate in the country

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Ghana’s apex banking institution, the Bank of Ghana (BOG), has granted licence to Nigerian fintech, Flutterwave, for a Payment Service Provider (PSP)
operations in the country.

Olugbenga ‘GB’ Agboola, Founder & CEO of Flutterwave, who commented on the approval, said the payments technology company was granted an Enhanced Category of the PSP by the Bank of Ghana.

“This milestone marks a significant expansion of Flutterwave’s operations in Africa, enabling the company to offer a comprehensive suite of payment services directly within, and through Ghana,” Agboola said in a statement announcing the news.

“Ghana presents an exciting market for Flutterwave’s innovative solutions. With a stable democracy, a tech-savvy youth population, and a high mobile internet penetration rate of 71%, Ghana is well positioned for rapid digital adoption.

“The country’s digital payments market is projected to reach $7 billion in 2024, with an anticipated growth rate of 15.78%, resulting in a total value of $12.96 billion by 2028.

“When we started this journey, our goal was to unite the fragmented payment infrastructure in Africa, and securing this license in Ghana brings us a step closer to achieving that mission.

“At Flutterwave, we are committed to using our platform to promote economic growth to the nation, while also providing unparalleled service to all our prospective customers in Ghana and in the diaspora.

“The Payment Service Provider license (Enhanced Category) allows Flutterwave to operate without the need for third-party services, streamlining payment processes for businesses and customers alike.

“The Enhanced Category license further empowers Flutterwave to support other licensed fintech companies in Ghana by providing essential payment services, ultimately promoting a more integrated and efficient financial ecosystem.

“For potential customers in Ghana, Flutterwave’s license translates to more seamless and secure money transfers across the country.

“Businesses will benefit from direct collection and payout services, automated invoicing, payment links, and a checkout solution that supports multiple payment methods including cards, mobile money, and bank transfers,” he added.

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South Africa’s startup Cue launches AI Agents service to enhance customer service

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South African customer service software provider, Cue, has announced the launch of AI Agents, a new service that will empower businesses to automate routine inquiries, personalise customer interactions, and deliver exceptional service at scale.

Rhett Trickett, Chief Product Officer at Cue, who made the announcement in a statement on Monday, said with the AI Agents,
businesses will be able to help customers quickly and efficiently with chatbots and live chat on WhatsApp and social channels.

According to Trickett, the startup has worked with over 300 clients in the last five years, and recently expanded to the United Kingdom.

Cue’s AI Agents are trained on content from websites and company documents provided by businesses, allowing them to understand natural language and respond to a wide range of questions and requests,” he said.

“The service seamlessly integrates with existing workflows, enabling businesses to reduce response times, improve customer satisfaction, and boost agent productivity.

“At Cue, we’re committed to helping businesses deliver exceptional customer service in a rapidly evolving landscape.

“Our AI Agents represent a significant leap forward in customer service automation, enabling businesses to streamline operations, enhance efficiency, and ultimately, build stronger relationships with their customers,” Trickett added.

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Zambian fintech Union54 partners with Paymentology to launch virtual Mastercard debit cards

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Zambian fintech, Union54, has partnered with next-generation payment platform, Paymentology, to launch virtual Mastercard debit cards on its ChitChat social platform.

Perseus Mlambo, CEO of Union54, who made the disclosure in a statement on Friday, said the partnership was timely as it was coming at a time of rapid growth in Zambia’s digital payments sector.

“With 16.4 million mobile connections representing 78.7% of the population, and a projected market growth for digital payments of 16.12% from 2023 to 2027, reaching a size of US$8,441.00 million, Zambia is primed for innovation in financial services,” he said.

“By integrating communication and secure financial transactions on one platform, Union54’s ChitChat has the potential to drive significant economic growth, foster entrepreneurship, and enhance financial inclusion throughout Africa.

“Building on the recent launch of Union54’s ChitChat—a messaging app with an integrated payment wallet—this collaboration introduces a USD virtual Mastercard debit card to the platform.

‘Leveraging over two decades of expertise, Paymentology provides its next-generation payment platform to support Union54’s expansion of ChitChat in Zambia and other African markets during this critical growth phase.”

Union54 which was founded in 2021 by entrepreneurs Mlambo and Alessandra Martini, has quickly gained prominence in Africa’s fintech sector with its flagship product, ChitChat, enabling users to communicate, network, transfer money between wallets, convert USD to local currencies, and send in-app funds to other ChitChat users.

“With the help of Paymentology’s cloud-first, API-driven technology, users can now conduct both in-person and online transactions using their ChitChat virtual Mastercard debit card,” Mlambo said.

“The internet has transformative potential for both individuals and governments. Our goal is to create secure and efficient spaces for communication and transactions. Partnering with Paymentology provides us with the reliability, security, and scalability needed to elevate our offerings. This collaboration will empower our customers with the advanced tools necessary for seamless communication and financial transactions.”

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