Flutterwave buys Mono to expand account-to-account payments in Africa

Flutterwave has acquired Mono, an unfastened banking and fiscal information infrastructure supplier successful Africa, for an undisclosed sum.

The Africa-focused payments exertion institution volition integrate Mono’s unfastened banking APIs into its level to enactment account-to-account payments, individuality verification and unafraid entree to fiscal data.

As agreed, Mono volition proceed to run arsenic an autarkic institution pursuing the acquisition. Its leadership, squad operation and day-to-day operations volition stay unchanged, with Flutterwave taking a strategical involvement alternatively than assuming operational control.

By adding Mono’s infrastructure, Flutterwave plans to grow its enactment for bank-based and authenticated outgo methods crossed cardinal African markets.

The integration is expected to heighten capabilities specified arsenic faster lawsuit onboarding, automated verification, reduced fraud hazard and streamlined account-to-account transactions. It besides provides a pathway for aboriginal products successful alternate outgo methods, authenticated outgo flows and unfastened banking-enabled stablecoin usage cases.

For businesses, the combined offering is designed to simplify compliance-focused workflows, including individuality checks and slope relationship validation, portion aiming to amended conversion rates and reliability astatine scale. Developers and partners volition summation entree to a unified situation wherever payments and fiscal information are accessible via a azygous infrastructure layer, which tin trim integration complexity and shorten deployment timelines.

Flutterwave laminitis and CEO Olugbenga 'GB' Agboola said: “This acquisition reflects however we deliberation astir the aboriginal of fiscal infrastructure successful Africa. Payments, data, and spot cannot beryllium successful silos.

“Open banking provides the connective tissue, and Mono has built captious infrastructure successful this space. This acquisition allows america to grow what's imaginable for businesses operating crossed African markets, portion staying grounded successful security, compliance, and section relevance.”

"Flutterwave buys Mono to grow account-to-account payments successful Africa" was primitively created and published by Electronic Payments International, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.