Flywire, a US-based payment and receivables solutions provider, has selected Flutterwave’s Rave payment platform to facilitate cross-border payment transactions for students, patients, and businesses in Nigeria.
According to Higher Education Statistics Authority data, Nigeria is the number one source of international students and patients from Africa.
The country annually exports and imports goods and services worth around $35bn and $30bn, respectively, according to data from World’s Top Exports.
Flywire CEO Mike Massaro said: “Nigeria can be a very complex foreign exchange environment. Together with Flutterwave, we’re removing a lot of that complexity and providing a more seamless payment experience for international students, patients, and businesses.
“Nigerians will now have the convenience of being able to make digital, cross-border payments in their local currency, through ebank transfers, credit/debit cards, and mobile payments. Our partnership will also streamline the reconciliation of these payments on the receiving end for schools, hospitals and businesses.”