• About
  • Advertise
  • Careers
  • Contact Us
Tuesday, July 1, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Fintech

Fintech Giant Flutterwave Shuts Down Barter, Shifts Focus to Remittance and Enterprise

by Joan Aimuengheuwa
March 8, 2024
in Fintech
1
Fintech Giant Flutterwave Shuts Down Barter, Shifts Focus to Remittance and Enterprise
Flutterwave

Flutterwave

UBA
Advertisements

African fintech leader Flutterwave is shutting down its Barter service, a virtual card platform it launched in 2017. 

Shifting focus from Barter, Flutterwave will now concentrate efforts on its remittance and enterprise business segments, which have proven more successful.

The decision to sunset Barter follows a market analysis that revealed evolving customer needs and shifting trends. While acknowledging the importance of retail services, Flutterwave emphasizes its current priority: optimizing solutions for businesses and remittance.

Barter’s closure comes after a period of challenges. The service faced downtime in 2022 due to an update from its card partner, Union54. This Zambian issuer was unfortunately targeted by a significant chargeback fraud attempt of $1.2 billion.

Barter users encountered issues with platform stability and card rejections from merchants like Netflix, Facebook, PayPal, and Apple Music. These problems likely contributed to the decision to discontinue the service.

Barter held an important place in the Nigerian fintech sector. Launched in 2017, it was among the first to offer Nigerians the ability to make international payments. The platform allowed users to create virtual dollar cards for online transactions.

However, compared to Flutterwave’s enterprise services, which generate the majority of the company’s revenue, Barter’s contribution was minimal. While Flutterwave processes billions of dollars in transactions, Barter only accounted for roughly 1% of that volume.

Flutterwave appears optimistic about its future, focusing on its remittance products, Send and Swap. These services aim to capture a sizeable share of Africa’s $54 billion remittance market, although their current progress is still in the watch.

Loading

Advertisements
MTN ADS

Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
0Shares
Tags: BarterFlutterwave
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post
International Women's Day

Empowering Women in Tech Leadership and Entrepreneurship: Celebrating Women's International Day

Comments 1

  1. Pingback: Confusion as Flutterwave Admits Fraud Attack, Denies Losing ₦11 billion - Tech | Business | Economy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Google Opens Applications for ₦75 Million Hustle Academy Fund to Empower Nigerian SMBs

Google Opens Applications for ₦75 Million Hustle Academy Fund to Empower Nigerian SMBs

2 years ago
Airbus routes

Airbus’ Study Identifies Unserved Routes to Boost Air Travel in Africa 

1 year ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.