Service Management

Flutterwave buys Mono to enhance payments offering in Africa

Africa-focused payments technology company Flutterwave is to buy Mono, an African open banking and financial data infrastructure provider.

Flutterwave, which has acquired Mono for an undisclosed sum, will integrate Mono’s APIs into its platform to support account-to-account payments, identity verification and secure access to financial data.

Mono will, however, continue to operate as an independent company following the acquisition. News website Electronic Payments International says its leadership, team structure and day-to-day operations will remain unchanged, with Flutterwave taking a strategic stake rather than assuming operational control.

By adding Mono’s infrastructure, Flutterwave says it plans to expand its support for bank-based and authenticated payment methods across key African markets.

The integration is expected to enhance capabilities such as customer onboarding and automated verification and to reduce fraud risk and streamline account-to-account transactions. It should also provide a pathway for future products in alternative payment methods, authenticated payment flows and open banking-enabled stablecoin use cases.

For businesses the combined offering is designed to simplify compliance-focused workflows, including identity checks and bank account validation, while aiming to improve conversion rates and reliability at scale. Developers and partners will gain access to a unified environment where payments and financial data are accessible via a single infrastructure layer.

On its website Flutterwave says: “By bringing Mono’s pioneering API technology into the Flutterwave ecosystem, we are positioning open banking as a core pillar of Africa’s evolution, as we chart Africa’s next big leap in payments.”



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