Flutterwave says it has expanded its Send App service into the U.S. market following a partnership with MainStreet Bank, a subsidiary of MainStreet Bancshares Inc.
Under the pact, Flutterwave’s Send App service will be available across 49 U.S. states, excluding Texas, the Nigerian fintech company said noting that the move will facilitate quicker, easier, and more affordable remittances for Africans in the diaspora to send money back home.
The Send App, Flutterwave says, provides real-time support, exchange rate updates, and transaction tracking. With the expansion, users in the U.S. can now access the service from all states except Texas, offering them enhanced security features, including the mandatory provision of Social Security Numbers (SSN) for regulatory compliance.
“This has further strengthened the safety and security of our customers’ funds and data, ensuring that Send App remains a reliable remittance solution that gives Africans in the diaspora peace of mind with every dollar they send back home. We care deeply about our diaspora community, who we expect to play a major role in Africa’s next phase of growth.”
Olugbenga Agboola, Flutterwave CEO.
CEO: Flutterwave-Mainstreet Bank tie on Send App to support diaspora remittance
“Our partnership with MainStreet Bank underscores our dedication to providing secure, regulatory compliant, and efficient financial solutions,” according to Olugbenga Agboola, Flutterwave CEO.
“This has further strengthened the safety and security of our customers’ funds and data, ensuring that Send App remains a reliable remittance solution that gives Africans in the diaspora peace of mind with every dollar they send back home. We care deeply about our diaspora community, who we expect to play a major role in Africa’s next phase of growth.”
This expansion is significant for remittances to Africa, particularly to countries like Nigeria, which, according to Statista, a data gathering platform, received at least $10 billion in remittances in 2021. Nigeria, along with Egypt and Morocco, was among the top recipients of remittances in Africa that year. These funds, typically sent by migrant workers to their families, play a critical role in supporting healthcare, education, and living expenses across the continent.
Flutterwave says its partnership with MainStreet Bank enhances the security and compliance measures of the app, ensuring a safe and seamless experience for users. “MainStreet Bank understands and prioritises investment in communities, which makes it a great fit for Flutterwave’s goal to build bridges that connect Africa to the world,” Agboola said.
Todd Youngren, President of Avenu, a division of MainStreet Bank, described the partnership as a great fit.
To celebrate the expansion, Flutterwave says it is offering U.S. users a $10 discount on transfers of $120 or more using the code “USLIVE.”
To register for the Send App in the U.S., Flutterwave said that users must provide their full legal name, valid email address, country of residence, phone number, residential address, ZIP code (where applicable), and Social Security Number (SSN). Without an SSN, users will be unable to complete transactions, as Flutterwave does not accept Individual Taxpayer Identification Numbers (ITINs) in place of SSNs.
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