Going to the bank because of a simple deposit transaction or payment of bills is one thing we always try to avoid because of the population, stress, and time consumed trying to make this possible. We all need help in handling our finances, there must be complaints, financial advice you seek or urgent bills to pay on weekends, and this has been solved by introducing Fintech.
Fintech means financial technology. Fintech represents all financially related services provided by banks, investment banks, credit card companies, and other finance industries digitally. This technology has been globally adopted and used in every category of finance.
Benefits and Advantages of Fintech.
Fintech has made everyone's life easy in the world of finance, from paying bills to buying stock and investments. Few of its benefits include
1. Fintech has made it easy for users to manage their finances, set goals, and make payments automatically.
2. Fintech has helped reduce fraud by making security the primary concern, the availability of two-factor authentication will make it difficult for fraudsters to have access to your account.
3. It greatly simplifies financial management. it allows users to manage their accounts personally.
There are different platforms available in Fintech. These platforms can be used to pay bills, receive or make payments, invest, and save. Some of the fintech platforms available in Nigeria include;
- Paystack
- Flutterwave
- Cashenvoy
- Quickteller
- Paypal
- Remita
- Amplify
- GlobalPay
In this article, we will be informing you all there is to know about Flutterwave payment services.
Flutterwave is one of the most popular fintech companies available in Nigeria. Flutterwave is a technology that uses digital payments infrastructure to assist banks and businesses to build seamless and secure payments for their customers. It provides opportunities for businesses to sell online, process payments, build financial products and use business tools designed to grow their business.
The Advantages of Flutterwave include;
1. It helps businesses grow. Some of the businesses that use Flutterwave as their payment options include Uber, MTN, Chipper, Piggy vest, Microsoft, and SmartSMS.
2. Flutterwave makes it easy to accept payments from anyone and anywhere in the world.
3. With Flutterwave, you can make single or bulk transfers to different bank accounts by using only your smartphone.
4. Flutterwave allows multiple currency transactions, this is great for local and international businesses.
Features of Flutterwave
1. Top-notch image display
2. E-Commerce store for selling your products
3. Unique payment links are available for receiving payments from anyone at any time.
4. Instant notification
The interface:
Flutterwave is available to install on your device or use online where you can send money, collect payments, create a store and start selling, access to flexible loans, and a platform to grow your business.
Comparison between Flutterwave and Paystack
Paystack and Flutterwave are online payment platforms used to make payments, pay bills, and for business purposes. Both are free to set up and are available both online and offline, locally and internationally. Paystack and Flutterwave are very similar but few individual features can be used to compare them.
|
Flutterwave |
Paystack |
Pricing and Fees per transaction
|
Local 1.4% International 3.8% |
Local 1.5% International 3.9% |
Security |
Payment Card Industry Data Security Standard (PCI DSS) certified. |
Payment Card Industry Data Security Standard (PCI DSS) certified. |
Transaction tools |
Flutterwave supports POS (Point Of Sale), Debit and Credit Cards, Bank Account, Mobile Money Wallets, American Express, M-Pesa, Visa QR, Bank Transfer and USSD. |
Paystack supports Card, Bank accounts, Bank Transfers, USSD, Visa QR, and Mobile Money transfers. |
Coverage |
Represents business owners in over 40 African countries thereby accepting payments in 150 different currencies |
Represents businesses and entrepreneurs some services are not available in some countries. |
Services |
Provide cheaper service compared to Paystack and also has a bigger reach in Africa than Paystack |
Paystack is more expensive compared to Flutterwave. |
Flutterwave and Paystack are great payment options to use and you can decide which one works best for your business. At SmartSMSSolutions, Flutterwave is the payment option we use for transactions.
To top up your wallet on SmartSMSSolutions you can use Flutterwave to fund your wallet with your debit card. Click here to know how you can fund your SmartSMS wallet.
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