Flutterwave has announced a strategic collaboration with Payful, a global payments technology company known for enabling seamless cross-border transactions.
This partnership aims to simplify high-value payment collection and settlement for businesses operating across Africa.
Through the collaboration, merchants on Payful’s platform can now collect payments locally in African currencies and settle globally in major currencies such as USD and EUR. This capability is powered by Flutterwave’s secure and compliant payment infrastructure, including its Virtual Account solution and multi-currency settlement platform.
Register for Tekedia Mini-MBA edition 19 (Feb 9 – May 2, 2026): big discounts for early bird.
Tekedia AI in Business Masterclass opens registrations.
Join Tekedia Capital Syndicate and co-invest in great global startups.
Register for Tekedia AI Lab: From Technical Design to Deployment (next edition begins Jan 24 2026).
Commenting on the collaboration, Flutterwave CEO Olugbenga Agboola stated that Payful needed a trusted partner to drive its expansion into Africa, and Flutterwave was best positioned to meet that need. “Through our Virtual Account solution and multi-currency platform, we enabled Payful to collect payments locally, settle globally, and scale seamlessly—all within one secure and compliant infrastructure,” he noted.
Also commenting on the partnership, Payful wrote,
“Breaking down payment barriers in Africa’s largest economy. Pumped to partner with the absolute powerhouse, Flutterwave, to unlock Nigeria for global exporters! Together, we’re dismantling payment obstacles and making it seamless for businesses to get paid in local Naira. Here’s to a collaboration that drives real growth and simplifies cross-border trade!”
Payful is a global professional cross-border payment platform, which is globally deployed with leading innovative technology strength. The cross-border payment platform is recognized for connecting businesses to efficient global payment rails, enabling large-volume trade transactions and supporting merchants across various sectors.
It focuses on providing customized digital cross-border payment services for global cross-border e-Commerce sellers, foreign trade enterprises, international logistics, air travel hotels, study abroad and other segmented market customers, including cross-border payment, foreign trade payment, service trade payment, global payment, exchange rate management and other full chain digital cross-border payment services.
Navigating Africa’s Complex Financial Environment
Africa offers vast growth potential for global payment companies, but its fragmented financial systems can complicate operations. Payful faced several challenges, including:
-
Inefficient High-Value Payment Collection: Traditional card systems often proved costly or poorly suited for large transactions.
-
Cross-Border Settlement Complexity: The need to convert local currencies into global settlement currencies efficiently posed operational and financial hurdles.
-
Regulatory Barriers: Operating across African markets requires navigating distinct regulatory frameworks and maintaining multiple local financial relationships.
As the company expands into the African market, it seeks to provide users with payment experiences that match global standards in speed, security, and ease.
Why Flutterwave is the Ideal Partner
Payful selected Flutterwave due to its strong regulatory footprint, pan-African payment infrastructure, and single API integration model. Flutterwave’s deep market expertise enables Payful to scale without the complexities typically associated with multi-country expansion.
The Solution: Virtual Accounts for Easy, Local Collections
With Flutterwave’s Virtual Account solution:
-
Payful receives unique virtual account numbers via API.
-
Merchants and users make payments using familiar local bank transfer methods.
-
Funds are settled globally within agreed timelines.
-
All transactions occur under regulated, compliant financial frameworks.
This simplifies the payment experience for merchants and enables smooth, transparent fund movement across borders. Through this partnership, Flutterwave and Payful are unlocking new possibilities for businesses engaging in high-value trade across Africa, strengthening financial connectivity and supporting scalable growth across the continent.