PayPal and Flutterwave, which runs on RippleNet, are reducing fees for cross-border payments for African merchants as part of a promotion to entice them to sell their goods and services in international markets.
RippleNet customers can get discounts from PayPal.
PayPal and Flutterwave are offering participating merchants $500 in free PayPal receipts as part of this promotion.
Merchants would be charged 4.4 percent plus $0.30 per transaction in other cases. This rebate is valid for 60 days, and merchants will not be charged any fees for their first $500 in international payments.
Collaboration between PayPal and Flutterwave
The two companies collaborated in March to enable Flutterwave’s merchant customers in Africa to make payments using the “Pay with PayPal” feature.