Bitmama Joins the Wave of Fintechs Halting Card Services Amidst Industry Challenges
- Bitmama pauses partnership with MasterCard virtual card provider.
- Rise announced discontinuation of virtual card services in September.
- Carbon was the first fintech to suspend card services in June 2024.
The ongoing suspension of card services by multiple fintech companies indicates a troubling trend in the industry, suggesting that the current economic environment and operational challenges are significantly impacting service delivery. This raises questions about the sustainability of fintech models reliant on card services and highlights the need for innovation and adaptability in the face of such challenges.
