Flutterwave, Africa’s biggest fintech startup, is shutting down Barter, its virtual card service and remittance platform it launched in 2017.
Flutterwave says it will focus on its enterprise and remittance business segments.
Driving The News
Flutterwave will be focusing on remittance and enterprise going forward. Last year, the company stated that its enterprise services were its biggest revenue driver.
In an interview in 2018, it was revealed that Barter accounted for about 1% of the company’s $2 billion worth of transactions.
Digging Deeper
Flutterwave’s Barter service launched in 2017 and allowed Nigerians to make international payments. The product leveraged Flutterwave’s virtual card API to allow users to create an unlimited number of virtual dollar cards for single or repeat transactions.
Zoom Out
Flutterwave has been working and putting more focus on its new remittance platform Send App By Flutterwave which it launched last year.
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