Carbon, a pan-African Fintech Company based in Lagos Nigeria, is shifting from being a leading digital lending company to becoming a digital bank offering a range of financial services including, savings and payments, providing access to basic financial services for Africans. It has today announced a strategic five-year partnership in the third quarter of 2021 with Visa, the world leader in digital payments, launching Visa debit cards to offer both digital and physical issuance to its customers by leveraging Visa’s payment functionalities to deploying an instant issuance process in three key markets including Nigeria, Ghana, and Kenya.
With the arrival of debit cards, Carbon is building on its fast-growing user base of over 650,000 customers and a strong 2020 fiscal year which saw the company process about $241.35 million in payments and $63 million in loan disbursements, eclipsing the previous year’s numbers despite the pandemic. Adding Visa cards to its payments stack will also enable easier access to Carbon Zero, the company’s Buy Now Pay Later product, which allows consumers zero percent financing on items they need the most but cannot afford immediately.
The CEO/Co-founder of Carbon, Chijoke Dozie, stated that the company’s focus is on delivering an unparalleled banking experience that is both safe and reliable across all touchpoints. Visa has continued to provide businesspeople with new ways to reach their customers through visa vast network and global scale due to the rapid pace of technology innovation that has driven a shift in business and consumer expectation in finance.
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