Barter by Flutterwave, or just Barter, is an app that enables users to conduct online transactions such as paying merchants, purchasing airtime, paying bills and subscriptions, and transferring money locally and internationally.
In this article, I’m going to do a barter by flutterwave full review and at the end, you will be able to comprehend what it is all about.
Let’s Get Started!
What is Barter Flutterwave?
Barter is Flutterwave’s main retail product. It has features like airtime and bill payments, local and international transfers, virtual cards, and payments to merchants, as well as a lot of other things. The Barter app has a virtual wallet that your customers can use to buy things from you on Flutterwave, so they can buy things from you.
Who owns Barter Flutterwave?
The company was started in 2016 by Iyinoluwa Aboyeji, Olugbenga Agboola, and Adeleke Adekoya. The company is based in San Francisco, California, and has operations in Nigeria, Kenya, Ghana, South Africa, and seven other African countries, as well as in the United States.
Is Barter by Flutterwave safe?
Yes, it is absolutely safe. The platform is PA DSS and PCI DSS compliant, which means that it has passed the highest level of the security audit. When you want to add an extra layer of security, you have to make a PIN code or put your fingerprint in. The PIN is asked for every time money moves from your account.
In 2021, it raised $170 million in a Series C funding round which was the largest amount ever secured by an African tech startup. This gave it a valuation of $ 1 billion. Investors include Mastercard, Tiger Global Management, Visa ventures, Y-combinator, etc. Just in case numbers don’t whisper anything to you, the site is legitimate.
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How can I Join Barter Flutterwave?
To join barter flutterwave, you follow the steps below;
- Visit the flutterwave.com homepage and navigate to sign up.
- On submitting your personal details, an email is sent to you for verification. When you click the link, it will enable you to pick the account category that suits your business type. Select your account category and continue to the dashboard.
- You will be directed to the dashboard homepage to finish your registration. Complete your bank information to start accepting payments.
How can I Request Money from a Barter Account?
- Log into your barter app
- Click on Send Money
- Select a contact to request the money.
- Enter the amount you are requesting for.
- Enter the amount being requested
- A request will be sent to the contact selected.
- All they need to do is accept the request, and the money will be in your Barter account immediately
Barter Flutterwave Fees.
Barter flutterwave has a virtual card issuance of $2. It has a minimum initial deposit of $5.
They charge a 1.4% commission on local transactions whereas they charge 3.8% for international transactions.
How can I Create a Virtual Card in the Barter Flutterwave Account?
- First, click on “CARDS” on the barter app dashboard.
- Click on “New Card”.
- Click on “Choose virtual card”-there is a $2 creation fee.
- Then you determine the label that you need to appear on your card. This is to identify your card just in case you will have a couple of them.
- Choose your card design.
- Determine the amount you want to fund your card with and then click “Create card”. Remember to input a value that is not less than $5.
- You will then set a four-digit pin which you will be used to validate transactions.
- Eventually, you will see your card on the “Cards” option.
This video will take you step by step on how to create a virtual card.
How to Add Money to Barter Card?
It’s important that you first put money in your Barter virtual wallet. You can do this with your bank card, wire transfer, USSD, or mobile money wallets like M-Pesa, or MoMo.
There is an easy way to add money to your Barter wallet. You just have to say how much money you want to have in your Barter wallet.
After you have added money to your wallet, you need to add money to your Barter by Flutterwave virtual card. There are no limits on how much money you can put on your virtual card at one time, and there are no fees.
Your virtual card will be a Barter Visa card, and it will be called that.
Can I Receive Money with Barter?
Yes. It is easy all you need is a barter account. The sender will follow the process that has been highlighted above.
How do I Transfer Money from Barter to a Bank Account?
- Locate the “Withdraw funds from wallet” under the “Wallet” tab.
- Select the wallet you want to withdraw from and enter the amount you want to withdraw in order to start a transfer from your wallet to the main bank account linked to your account.
- When you click “Verify Account,” you’ll see a green pop-up at the top-right corner that says that your account has been checked.
- To withdraw money, click on the “withdraw” arrow and then click on the blue “continue” button on the next pop-up.
Making online payments for stuff such as online goods has been made relatively easy for Africans. Barter intends to make transactions in Africa safe, efficient, and easy.
The firm is developing plans to enable unbanked individuals to conduct online transactions using GetBarter agents. Additionally, they are developing plans to extend the service to all of Africa’s nations.