Leading African fintech and payment technology, Flutterwave has launched a new payment product, Tuition, that would enable users in Nigeria and Africa conveniently pay fees to educational institutions like high schools, universities and colleges within Africa and abroad by using the Naira or any local currency. Nigeria is ranked 10th with the most international students; according to UNESCO, Nigeria has a yearly population of about 71,753 studying abroad.
Ever since the advent of the Japa syndrome, which still trends in 2023, Nigeria has witnessed a surge in migration and student visas due to distressing issues across all sectors of the country. Many Nigerians are willing to relocate, and student visa options remain very popular among the younger population. Nigeria has recorded the largest percentage increase in student visas compared to other countries by, 222.8%, with Pakistan at 141.3% and India at 88.3%.
The Nigerian-based fintech seeks to help Nigerians who look to study anywhere globally worry less about the challenges related to paying fees via its latest product. Tuition offers parents, guardians and students a fast and secure means of payment, eliminating worries about fraudulent transactions. The product also offers users multiple payment options like bank transfers, card payments and direct account debit. Flutterwave is deploying this payment solution at affordable rates helping Nigerians save costs while settling tuition fees.
Flutterwave's Tuition currently only supports payments from Nigeria, Cameroon, Ghana, Ivory Coast, Kenya, and South Africa. The fintech has emphasised its commitment to ensuring seamless payments across Africa, supporting the dreams of young Africans and that parents can support their children's education without any challenges.
Company Name: Flutterwave
Industry: Payments, Financial Services
CEO: Olugbenga Agboola
Funding raised: $439,000,000
Customer base: 900,000
Key countries: Nigeria, Ghana, Kenya and the Rest of the world