By Enyichukwu Enemanna
Flutterwave, one of Africa’s fasted growing fintech firms on Wednesday announced that it has added eNaira as a payment option for merchants, a move that could help boost adoption of the digital currency launched last year by the Central Bank of Nigeria (CBN).
With the app which came into existence October, Nigeria, the first African nation to launch a digital currency, is targeting 8 million users.
The adoption has been slow as lenders express concern that the app would compete with their online platforms and reduce fee revenue.
Flutterwave said that over 1 million merchants now accept eNaira payments from their customers.
“We… are confident that this number will grow further as we continue to innovate and expand,” Flutterwave said in a statement.
Nigeria seeks to increase usage of its eNaira digital currency by attracting unbanked users after a first phase adoption attracted 850,000 downloads by bank customers.
