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Flutterwave expands Xoom transfers into Nigeria
Flutterwave has partnered with Xoom (PayPal's money transfer service) to enable faster international remittances into Nigeria, connecting Xoom's global network with Flutterwave's local payout infrastructure and banking partnerships. The partnership addresses foreign exchange constraints and settlement delays in a market that receives over $20 billion in annual remittances.
This Wire brief sits within Fusion42's coverage of Fintech. Wire is Fusion42's founder-focused intelligence feed: each story is connected to the funds and startups it names — every one with a live profile on Raise or Scout — so founders can follow the capital and the momentum behind the headline rather than just the headline itself. Wire analysis is one of the live surfaces Arthur, Fusion42's AI co-founder, reasons over.
The Wire takeaway
PayPal just moved from being a remittance competitor to a customer of Flutterwave's rails. If you're building payout infrastructure in Africa, you now have a direct route to acquire volume from a $400bn+ company's remittance users.
Read the full story at itweb.africa →
Topics: Fintech · remittance-rails · cross-border-payments · paypal-distribution · local-settlement · africa-fintech