Techstars-Backed Nigerian Startup Fliqpay Launches Cryptocurrency Payments Gateway

Fliqpay, a Techstars-backed Nigerian startup has launched a cryptocurrency payments gateway to allow African businesses to accept cryptocurrency payments on the go.

Fliqpay, a Toronto and Lagos-based fintech says its cryptocurrency payment gateway will eliminate price fluctuation as businesses will be settled in their local currency across 5 markets.

Using its API, businesses can accept include; Bitcoin, US Dollar Tether (USDT), Ethereum, Litecoin, and Ripple’s XRP and have it settled in South African Rand, Kenyan Shillings, Nigerian Naira and Ghanaian Cedis instantly.

According to the Chief Executive Officer of Fliqpay, Wole Ayodele, “Our solution is aimed at helping African businesses to expand where they can do business. From the entrepreneur that makes handmade Ankara bags in Lagos, Nigeria to the freelance graphics designer in Mombasa, Kenya, we view ourselves as a facilitator in driving business growth for African entrepreneurs and companies.”

Its solution also cuts regular transaction fees by about 60% and offers zero chargebacks. Fliqpay was founded in 2019 and has done over $14 million in transaction volume.

Fliqpay is part of the Techstars network and was recently one of 10 startups to receive $1.2 million in seed funding from the American startup accelerator.

Fliqpay recently also announced a partnership with a blockchain company, Conflux. The partnership would allow Fliqpay to leverage Conflux’s state of the art blockchain to ensure faster payment processing. As well as a cheaper settlement for cross-border transactions.

The startup also offers a cross border payment solution that allows financial institutions to send and receive value from anywhere in the world instantly. The firm’s cryptocurrency payment gateway has payout capabilities in over 15 African countries including Nigeria, Ghana, South Africa, Kenya, Uganda as well as francophone countries in West African CFA.