Flutterwave Introduces Cutting-Edge Digital Solution for Seamless FX Access

Africa's leading payment technology, Flutterwave made a special announcement on the launching of Swap. The announcement was made by the CEO and founder of Flutterwave on September 11, 2023, in Lagos, Nigeria.

The newly released app is a subsidiary of Flutterwave in partnership with Wema Bank and Kadavra BDC. 

On September 4, 2023, at a press conference in the Flutterwave office in Ikoyi, the firm announced that the cutting-edge technology Swap is approved by the Central Bank of Nigeria (CBN) to serve as one of the key players in offering reliable digital transaction platforms for Nigerians to have access to other currencies seamlessly at a competitive exchange rate.

The introduction of Swap is coming at a time when Nigerians and businesses find it hard to access other foreign currencies. However, these issues have limited purchases and payment which also hampered the personal financial goals and macro-economic growth.

Also, Swap promises to not just make access to foreign currency seamless and secure but to also grant customers greater purchasing power and businesses massive investment potential.

Still, on the plans to make access to global currencies such as Dollars, Euros, and British Pounds easier, the firm will be introducing a convenient card issuance to all Swap users. Aside from that, Swap is expected to give out 10 million of these cards to Nigerians which will start from October 2023.

This development will assist Nigerians who require quick access to Business Travel Allowance (BTA) and Personal Travel Allowance (PTA) to enable their business endeavours, educational pursuits, and other travel requirements.

What the CEO of Flutterwave said,

• At Flutterwave, our dedication to innovation is matched only by our commitment to simplifying financial processes for endless possibilities. Swap represents a significant leap forward in how Nigerians will engage with foreign exchange. 

• We understand the FX access challenges individuals and businesses face, and Swap is our answer to those pain points, providing a seamless and efficient platform for currency exchange. We are honored to have secured regulatory approval and the trust of our partners Kadavra BDC and Wema Bank to bring this life changing solution to Nigerians.

What the CEO of Kadavra BDC said,

• Swap is a step in the right direction for solving major FX problems for Nigerians, and has simplified the process for accessing foreign currency at the click of a button.

What the MD of Wema Bank said,

• Our support for digital innovation in the Nigerian finance industry has been unrivalled since the launch of our digital Bank, ALAT. As a bank that is committed to digital innovation, we are proud to be on this journey with Flutterwave because we believe a product like Swap will have a major impact across all sectors.