PayPal payments behemoth and Flutterwave—which runs on RippleNet—are cutting off fees for cross-border payments for African merchants as part of a promotion to lure them to sell their goods and services to overseas markets.
PayPal offers discounts to RippleNet clients
Within this promotion, PayPal and Flutterwave are enabling participating merchants to obtain $500 worth of receipts via PayPal free of charge.
In other circumstances, merchants would be charged 4.4 percent plus $0.30 per transaction. This rebate will be active for 60 days and merchants will not pay any fees for their first $500 worth of international payments.
PayPal and Flutterwave partnership
The two companies teamed up back in March to allow Flutterwave's merchant customers in Africa to conduct payments via the "Pay with PayPal" feature.