Lagos and San Francisco-based fintech startup, Flutterwave, known for their B2B payment infrastructure has launched Flutterwave Store, an online portal where digital shops can be created by African merchants to sell online
Flutterwave went on with the development of the Flutterwave store as the startup’s response to solve the need of the SMEs and traders brought by the current pandemic. But according to TechCrunch, Flutterwave Cofounder and CEO, Olugbenga Agboola, says the service will still be available post-pandemic.
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Olugbenga Agboola emphasised that the new offering is not a move away from what Flutterwave is known for: a payment infrastructure company.
“It’s not a direction change. We’re still a B2B payment infrastructure company. We are not moving into becoming an online retailer, and no we’re not looking to become Jumia,” Flutterwave Co-founder and CEO Olugbenga Agboola
To create a Flutterwave store, merchants are required to fill necessary information regarding themselves and bank details. After that, a merchant ID is assigned to perform transactions with customers.
The Flutterwave store model seemed like a prototype of drop shipping.
It allows SMEs create online stores without any inventory requirements and the startup says this service will help SMEs in the 15 African countries it is launching (which includes Ghana, Kenya, Nigeria and South Africa) through the COVID-19 crisis and after the pandemic.
What does it cost to own a Flutterwave store?
It’s totally free except the commission tag which is normal for Flutterwave.
The service will be free to merchants as Flutterwave will be making commissions only on payments. Also, the startup will work with logistics operators like Nigeria’s Sendbox and Kenya’s Sendy to help merchants with pickup and delivery
Africa’s small and medium enterprises(SMEs) create around 80% of Africa’s employment, establishing a new middle class and fuelling demand for new products and services.
However, most of the SMEs do not have an online presence, to even think of online stores like Flutterwave store.
E-commerce platforms like Jumia have helped increase the number of African SMEs online and Flutterwave store together with Olugbenga Agboola and his team has come to take things up the ladder.
How does the Flutterwave store work?
First, you will need a Flutterwave account. If you don’t have one, sign up here. If you have one already, sign in to your dashboard and follow this enlisted guide.
There’s a menu on the left of the dashboard, select “store” from it. On the Store page, click ‘Setup my store’ that’s displayed.
If you are a business owner but have no online presence, Flutterwave is an opportunity for you to finally get your online store at no cost.
And If you’re looking for ways to make money online, Flutterwave store takes you one step up as an entrepreneur.
You are on your way to being a Store Owner and an entrepreneur, Just hit the share button and get your friends to know of this.
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