Flutterwave, a leading African payments technology company, has introduced Swap, a revolutionary digital platform in partnership with Wema Bank and Kadavra BDC. Swap, endorsed by the Central Bank of Nigeria, is set to provide Nigerians with secure and competitive access to foreign currency, addressing the ongoing challenges faced by individuals and businesses in international transactions.
The launch of Swap comes at a crucial time when many Nigerians have struggled to obtain foreign currencies, hindering economic growth and global opportunities. With Swap, Flutterwave aims to streamline and secure these currency exchanges while making them financially rewarding.
One standout feature of Swap is the introduction of a card issuance system, with plans to distribute over 10 million cards from October 2023. These cards will be invaluable for those needing swift access to Personal Travel Allowance (PTA) and Business Travel Allowance (BTA).
Flutterwave’s CEO, Olugbenga ‘GB’ Agboola, expressed dedication to simplifying financial processes through innovation. Cynthia Onyinyechi, CEO of Kadavra BDC, praised Swap for simplifying the foreign exchange process. Morufu Oseni, Managing Director of Wema Bank, highlighted their commitment to digital innovation.
Access to Swap is available with a single click for existing Flutterwave for Business and Send App users. It will also be accessible via API for banks and new platform sign-ups.
In summary, Swap represents a transformative solution for Nigerians, providing secure and efficient access to foreign exchange while enhancing purchasing power and investment potential. With regulatory approval and trusted partnerships, Flutterwave aims to revolutionize currency access in Nigeria.
