Union54 introduces ChitChat in Zambia

Monday 25 March 2024 12:31 CET | News

Zambia-based card issuing fintech startup Union54 has announced the launch of ChitChat in the region, aiming to improve the digital finance and social commerce landscape in Africa. 

As per the information detailed in the press release, Union54 introduced ChitChat, a software which integrates encrypted chat capabilities with a digital wallet functionality, allowing simplified money transfers within chat conversations.

Zambia-based card issuing fintech startup Union54 has announced the launch of ChitChat in the region, aiming to improve the digital finance and social commerce landscape in Africa.

Union54’s development strategy

The launch of the ChitChat software supports Union54’s development strategy, with the company intending to advance Africa’s financial inclusion and technological improvement. To develop the software, Union54 collaborated with Mastercard, with the service representing a merge between technology and financial expertise intended to enable users across Africa. ChitChat's main feature includes the ability to facilitate instant USD money transfers directly within chat sessions, a capability that has the potential to improve the digital payments landscape. By utilising Mastercard’s integration, the platform delivers users in Angola, Tanzania and Ghana the accessibility of beta card and payment functionality, with plans for expansion into additional regions in progress.

Furthermore, ChitChat provides in-app currency conversion, enabling transactions between USD and Zambian Kwacha (ZMW), therefore minimising the difficulties associated with cross-border payments. In addition to simplifying transactions, this functionality also underlines Union54’s commitment to improving the accessibility and usability of digital finances for African consumers. However, prior to the launch of ChitChat, Union54 underwent several setbacks due to an attempted USD 1.2 billion chargeback scam, requiring the company to temporarily suspend its services. The partnership with Mastercard assists the company’s commitment to fostering financial inclusion and stability across all African economies.

According to Union54’s officials, by launching ChitChat, the company intends to create a safe and secure environment for social commerce. Intending to accelerate trade across Africa, Union54 plans to position ChitChat as the main platform for convenient and efficient digital transactions. Additionally, the company plans to expand ChitChat’s functionality by introducing wallets scheduled for the near future. Consumers can also project the launch of USD debit cards by the second quarter of 2024, which aims to further improve the versatility and utility of the platform.

By integrating communication, financial transactions, and bill payments into a single platform, ChitChat intends to drive economic growth and encourage entrepreneurship, while also promoting financial inclusion throughout Africa. Through this partnership, Mastercard aims to promote financial inclusion in African markets.

More information about Union54

Working towards providing convenience and safety for individuals and governments, Union54 developed three products that allow them to engage in sensitive discussions and conduct transactions, including ChitChat, GovChat, a specialised chat and payment platform designed for governmental use, and an API, which enables anyone to offer chat, payments, and remittances.

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Keywords: product launch, digital wallet, digital payments, partnership, social commerce, financial inclusion
Categories: Payments & Commerce
Companies: Union54
Countries: Zambia
This article is part of category

Payments & Commerce


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