Flutterwave has made a huge journey from being the most popular startup to ending up with allegations of being called a fraud. The Flutterwave scandal consists of a series of events that they got tangled into, ultimately leading to tarnishing the reputation of the company.
In this article, I will be discussing about Flutterwave payment system/portal and more. Keep reading till the end of the article to find out more information about various Flutterwave scandals and more!
Flutterwave: Company Overview
Flutterwave is a renowned fintech company that is Nigeria-based. It is a medium of payment-infrastructure that serves all of the global merchants and payment service providers out there.
Their payment structure is of such a stature that it allows all global banks and merchants to accept payments on POS, ATMs, mobiles, and the web. At the same time, they are also known to offer a lot of online marketplaces/businesses a wide range of products and services for sale.
Primary Areas Of Operation
The company Flutterwave has its headquarters located in the region of San Francisco, California, with its operations mainly conducted in South Africa, Kenya, Uganda, and Nigeria. They also operate in a whole lot of other African countries as well.
Features Of Their Payment Infrastructure
There are a lot of features of the payment infrastructure of Flutter which make it a suitable option for various businesses and companies. Some of them are:
Mobile Accessibility
Flutterwave has a suitable mobile application that can also be used for generating different types of payments. This is done right within the app by generating a link.
Saved Searches
The Flutterwave platform has the feature of saved searches that enables the users to filter out unwanted results very quickly.
Dashboard
The Dashboard allows the users to be able to process the different system of payouts from the dashboard, API, or even both.
Keep reading till the end of the article to find out more information on the Flutterwave scandal!
Checkout
The platform also enables users to collect different payments from customers residing in any region of the world. The payments can be conducted on both web and mobile.
Card Issuing
The users can request physical cards right from the dashboard of “Flutterwave For Business”.
Invoice
The platform of Flutterwave enables users to accept different types of payments from anywhere including credit and debit cards. Their platform also allows bank transfers too.
Rave
Flutterwave also allows merchants to accept both debit and credit card payments from people residing in over hundred fifty countries.
API
The platform enables the user’s app websites and solutions to be able to communicate with the Flutterwave application and then be able to use the features directly.
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Faced Scandals & Controversies
Flutterwave had a lot of controversies on different occasions. In July, back in the year 2022 — the high court of Kenya froze a lot of accounts that were held by Flutterwave. This is so because there were a lot of allegations that the funds accumulated by them were made by doing credit card fraud and money laundering.
In 2023 (March), a Twitter user tweeted about a possible hack done at the Flutterwave company. After these allegations, the company made an official statement that nothing of that sort had happened at their company and that the funds of people were all secure. However contrary to their statement, several of the account holders stated how they had lost funds/ got their accounts frozen.
This was essentially the flutterwave CEO scandal that happened!
Toxic Workplace
Flutterwave also has been subject to a lot of lawsuits and allegations regarding denying their employees for getting the rights to stocks. It has also been reported that they have workplace toxicity and a culture of workplace bullying and harassment.
Possible Cons Of Using Their Platform
There are a lot of cons to the platform of Flutterwave. You got to know about a few of their cons after getting to know about the Flutterwave Flutterwave scandal:
No POS Machine
There’s a major absence of POS machines on Flutterwave. POS here refers to Point-Of-Sales. This is very discouraging for all of the smaller businesses out there, who want to try out their services offline before opting for online systems of payment.
Posed Technical Problem
The server of Flutterwave also faces a lot of issues, and network/channel errors. This is a very common problem in a majority of the digital payment gateways out there.
No Feature Of One-Click-Payment
There’s no availability of a one-click payment feature over here as well. Whenever a user feels like paying for services/goods, they have to enter their bank details every time.
Pros Of Using Their Platform
All’s not bad, there are good things about their platform too. Here is a list of some of the pros of using the Flutterwave software:
Using The Platform Is Easy
The platform is super easy to use and also provides users with a free setup!
Affordably-Priced
The pricing of the platform of Flutterwave is very fair and affordable. There’s also a global price chart that can be used for making international comparisons.
Supports A Lot Of Currencies
There are a lot of different currencies that are supported on this particular platform. This makes the place ideal for conducting both international and local businesses.
To Wrap It Up!
The one great thing to learn from this event is the company’s way of handling the scandal. They had a very good approach to doing damage control and handling the posed crisis.
Thank you for reading this article up till the end. I hope you found the given information regarding the “flutterwave scandal” useful.
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