The collaboration allows Payful’s merchants to collect payments locally and settle globally, powered by Flutterwave’s multi-currency and compliant infrastructure.

According to Flutterwave’s Founder and CEO, Olugbenga Agboola, “When the time came for Payful, a leading global trade company to expand its reach into Africa, there was no better partner to power that growth than Flutterwave.”

“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.”

The deal makes Flutterwave the backbone for Payful’s African expansion, providing localised payment collection through virtual accounts and enabling faster, cheaper settlements for merchants trading across borders. 

The integration also removes the need for Payful to encounter multiple banking systems and regulatory requirements in each country.

Africa’s payment sector is fragmented, with issues such as high transaction costs, currency fluctuations, and regulatory complexity. 

Payful faced these challenges while seeking efficient ways to process large trade payments in local currencies like the naira and cedi, and settle in international currencies such as the dollar and euro. 

Flutterwave’s established infrastructure provides a simplified solution to these limitations, ensuring compliance, liquidity management, and operational efficiency.

Through a simple API integration, Flutterwave issues virtual accounts that allow Payful’s merchants to receive local payments via bank transfers, a more reliable method than card payments for large transactions. Funds are then settled globally through regulated channels, maintaining transparency and security.

Flutterwave said the collaboration aligns with its mission to support global enterprises looking to enter or scale within Africa. The company noted that its platform removes the burden of integrating multiple financial systems, handling foreign exchange risks, and meeting diverse regulatory demands.

Payful, which operates across multiple sectors globally, sees the African market as a key growth frontier. The company’s focus, it said, is to make payments for its African merchants as “seamless and reliable as they are everywhere else in the world.”

One key new feature is a B2B crypto-fiat payments application that enables businesses to accept cryptocurrency as a payment method.

This solution allows companies to hold, payout, collect and convert fiat and cryptocurrencies under one platform, ensuring connectedness and accessibility, which is integral to Eversend’s business offerings.

The API  and web-based platform that allows you to move from fiat currencies to crypto and back is being launched in crypto-friendly markets.

“Since our launch in 2019, we have evolved to serve our customers holistically by building features like multi-currency wallets, virtual cards, and cross border payments. Now we are introducing collections, payouts, and currency exchange for businesses. This distinctly shows that we have matured into a different company than three years ago”, says Stone Atwine, Eversend CEO and Co-founder.

A new brand identity was created to reflect Eversend’s offerings, the company’s future, and its core values; promoting economic stability, well-being, and livelihood through financial empowerment for communities. Although Eversend cuts across payments, it is centered around people and connections.

“The new logo and branding evoke emotion, expression, and dynamism, which are critical values in our thought process. Our new visual identity results from the valuable feedback received from our customers. For that reason, we agreed on a coin representing money and the letter E expressing emotions, connections, and Eversend”, comments Atwine.

Eversend is a leading African FX startup that has matured from a mobile application to a retail and business payments platform.

Launched in 2019, Eversend is an all-in-one payments platform offering cross-border payments, virtual cards, and crypto.

In addition, Eversend offers B2B and API-based payment services, including collections, payouts, and currency exchange.