Union54 offers virtual cards in Zambia

Wednesday 6 July 2022 08:56 CET | News

Union54 has launched in Zambia, offering people an opportunity to own virtual debit cards they can use to pay bills, purchase goods online, and access local and global supply chains.

The story of Union54 begins with Zazu, a challenger bank established as far back as 2016. Zazu encountered a major problem characteristic of legacy banks in Zambia: lengthy and unnecessary delays in issuing debit cards.

The lack of debit cards stands as a direct threat to financial inclusion in Zambia. Without debit cards, millions of Zambians are shut out from the many commercial opportunities that leverage the internet. 

Against this backdrop, the startup is offering other fintechs and companies in Zambia a means to generate their own debit cards, in both virtual and physical forms. By plugging into Union54’s API, these companies can generate cards for their customers in a more seamless process. 

In April 2022, Union54 closed a USD 12 million seed extension round. This would see the fintech expand to other African countries. Currently, the company claims that over 100 fintech companies and 20 websites are plugged into its API. 

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Keywords: credit card, debit card, virtual card, unbanked, startup
Categories: Banking & Fintech
Companies: Union54
Countries: Zambia
This article is part of category

Banking & Fintech


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