The implementation is simple. The "Pay With Bank Transfer (PWBT)" will allows Ghanaian customers to pay Flutterwave merchants directly from their bank accounts. In addition to this feature, the payment gateway also launched Virtual accounts for merchants in the West Africa country.
The two features work together in the sense that when a customer wants to pay merchant, a dynamic virtual account will be generated, allowing the customer to use the Pay With Bank Transfer (PWBT) method to seamlessly pay merchant.
PWBT is a quick, safe, and easy way to pay on Flutterwave. It lets people send money straight from their bank accounts to businesses using special virtual accounts. This makes paying simple and smooth. It also gives customers more ways to pay, like mobile money, bank cards, Google Pay, and Apple Pay.
In addition to the virtual accounts available to Ghanaian merchants, it's also worth noting that this accounts are also available in static state. The static accounts can be used for recurring payments or when you need to assign a unique account to a customer.
Regardless of the accounts you want to generate for your customers, have it at the back of your mind that Both the static and dynamic virtual accounts offer you greater flexibility and control for your business on the Flutterwave platform.
In essence, the virtual accounts will improve your experience by: streaming seamless, swift, and secure payments for your business; reducing errors in the sense that it allows customers to the exact amount which will minimize discrepancies and refund requests; increasing transaction limits; streaming E-levy charges on qualified transfers.
However, it's important to note that to use the virtual accounts as a merchant, you will need to connect through Flutterwave's API. Another thing you need to know is that with Pay With Bank Transfer, your customers can send up to GHS 2,000,000, but with mobile money payment method, they can only send up to GHS 25,000.
Here's how you can simply activate the "Pay with Bank Transfer" for your customers on the Flutterwave dashboard:
- Log in to your Flutterwave dashboard and go to "Settings". Under the settings page, click on "Business Preferences" and open the "Payment Methods" tab. Now, find "Pay with Bank Transfer Ghana" and turn it on. If you're a Ghanaian merchant, it activates instantly. If you're outside Ghana, click on "Request Access" and you’ll receive an email with a ticket ID to track your request. Flutterwave will then review your request and get in touch with you within a timeframe of 48 hours. If approved, you can start receiving payments via bank transfers from customers in Ghana.
As a customer willing to pay Ghanaian merchants using the "Pay With Bank Transfer" payment method, here's how to get about it:
- At checkout page, simply select "Pay with Bank Transfer" and you will be displayed with the amount, bank name (Affinity), and account number on your device's screen. Next, transfer the exact amount showing on your screen to the designated bank account using your bank mobile app, online banking, or mobile money (fintech) app. However, it's important to select "Instant Pay" while making the transfer. Once the transfer is complete, you and your merchant will receive a notification containing the payment receipt.
In 2023, Ghana recorded over 115 million bank transfer payments, and mobile money takes the lead as preferred payment methods for everyday transactions in the country. These, of course, highlight the growth of pay with bank transactions in Ghanaian businesses.
And as we all know that Flutterwave is the leading payment gateway technologies company in African with vision to build new solutions, seek opportunities, and partnerships to ensure consistency delivery of its promise of simplifying payments for endless possibilities, and every day transactions made to its merchants.
The launch of static and dynamic virtual accounts and pay with bank transfer payment method are another track record of driving innovation in the African finance ecosystem that shows that Flutterwave is really fulfilling its promises to merchants and businesses at large.
Another thing that worth noting is that the Ghanaian virtual accounts and new payment method announcements come on the heels of the company’s recent approval by the Bank of Ghana (BoG) to provide inward remittance services in the country.
