Today marks another incredible milestone in our mission to connect Africa to the global economy. We are excited to announce that Flutterwave has officially secured a Payment Institution license from the Central Bank of West African States (BCEAO) to fully operate in Senegal! 🇸🇳

With this license, we can now offer our full suite of seamless, reliable, and secure payment solutions to businesses across Senegal and those looking to expand into one of Francophone Africa’s most promising economies. These businesses can now leverage our solutions to serve customers both locally and globally, offering their preferred payment options.

Why Are We Excited About Senegal? A Mobile Money Revolution

When you think of Senegal, you might picture the historic Gorée Island or the stunning natural beauty of the Saloum Delta. Perhaps, if you are a football fan, you might think of one of their biggest stars, Sadio Mane. But beyond its rich culture, breathtaking landscapes, and football prowess, Senegal is at the heart of a digital payment revolution in West Africa.

Between 2013 and 2023, the number of registered mobile money accounts doubled, making West Africa a key player in the mobile money space. This growth was driven mostly by Nigeria, Ghana, and Senegal. 

Statista reports that the total transaction value in the digital payments market in Senegal is projected to reach US$3.08bn in 2025. It is expected to show an annual growth rate of 21.46% resulting in a projected total amount of US$8.15bn by 2030. 

This growth is fueled by 3 key factors:

• Senegal has a thriving youth population. 74% of their population is below 40. 
• Internet penetration in Senegal is at 60%, one of the highest in West Africa.
• With Wave, Orange Money, and Free Money dominating the mobile money space, Senegal is one of the top adopters of mobile money in the West African Economic and Monetary Union (WAEMU) region.

This digital evolution is not just simplifying payments for individuals; it is also making commerce more inclusive, allowing even small businesses in neighborhoods and local markets to accept payments and scale faster.

Flutterwave’s arrival in Senegal is our way of enabling that momentum, with a licensed, compliant, and secure infrastructure built for growth.

Why Global and Pan-African Businesses Should Be Paying Attention to Senegal

This milestone isn’t just about our expansion; it’s about the opportunity to serve more businesses and further connect Africa through payments.

With our Payment Institution license, global and regional enterprises can confidently expand into Senegal, knowing that they have a trusted partner who understands the payment terrain, local regulations, and customer behavior.

Senegal offers a strong mobile money infrastructure and regional trade access through the WAEMU bloc. There’s also a steadily growing e-commerce market in Senegal, with 50% of the population making a digital payment last year. 

If you’re looking for a stable entry point into Francophone Africa, Senegal might just be your smartest first step.

Benefits of Growing Your Business in Senegal with Flutterwave

• Seamless Payments: Offer your customers their preferred payment methods. From Wave, Free Money, and Orange Money to local and international cards, provide a smooth payment experience for them. Easily process payouts to your employees, suppliers, and partners. 
• Safe & Secure Payments: We are compliant with the highest industry security standards, including PA-DSS & PCI-DSS and ISO 27001 & 22301 certifications. You and your customers are always protected on our platform.
• Unlock New Growth: Our efficient payment solutions improve operational efficiency and payment completion rates, directly leading to business and revenue growth.
• Market Access: Tap into Senegal’s booming digital economy and connect with a wider customer base.
• Regulatory Compliance: Benefit from our expertise in navigating Senegal’s regulatory environment, ensuring your business is always compliant.
• Dedicated Customer Support: We have a dedicated team available to support you in both English and French, ensuring there’s no language barrier.

Our Payment Offerings in Senegal

Below are some of the payment solutions you now have access to: 

• Payment Collection: Easily accept local and international payments from your customers via the multiple payment methods they prefer, including Mobile Money (Wave, Orange Money), and Cards (Visa, Mastercard, etc.).
• Seamless Payouts: Effortlessly send single and bulk payouts in West African CFA franc (XOF) to your beneficiaries’ bank and mobile money accounts.
• Robust API Solutions: Integrate our robust APIs into your websites and applications. Use Flutterwave Checkout or our plugins for platforms like WooCommerce and Shopify to create a customized payment experience.
• No-Code Payment Tools: Use our no-code tools, such as payment links and invoices, to receive payments from your customers. Easily generate payment links and invoices from your dashboard and share them via WhatsApp, Instagram, or anywhere else to get paid.
• Intuitive Dashboard: Take full control of your business finances. Monitor transactions, create detailed reports, and manage your team from the Flutterwave for Business dashboard.

Frequently Asked Questions

• How Can I Get Started?
  You can start by contacting our sales team here.
• What Are the Requirements for Setting Up an Account in Senegal?
  The requirements for setting up a Flutterwave account in Senegal vary depending on the account type. The core requirements are business registration documents, valid identity documents, tax clearance certificates, personal bank details, etc. Contact our team to learn more.
• What if I Already Have a Flutterwave Account?
  Log in to your dashboard and ensure your business has completed KYC for Senegal to start collecting payments.
• What Payment Methods Will My Customers Have Access To?
  Your customers can pay you using cards (Visa & Mastercard), and Mobile Money (Wave, Orange Money & Free Money).
• How Much Does It Cost to Use Flutterwave in Senegal?
  Signing up is free, but we charge a small percentage per transaction. For detailed pricing, visit our pricing page.

If you have more questions about our payment solutions in Senegal or require any assistance, please send an email to serviceclient@flutterwavego.com. Our support team is available to answer your questions.

Flutterwave Is Ready To Support Senegal’s Growth

Over the years, we have helped businesses of all sizes, such as Uber, Audiomack, and Chipper Cash, process over 800 million payments worth over $34 billion. 

We have the payment infrastructure, local expertise, and global reach to help businesses in Senegal seamlessly process payments and grow. Now, with the license secured, we’re even better positioned to further connect Senegal to the global economy through payments.