Debit Cards, Once A No-Brainer For Africa’s Hottest Fintechs, Turn Nightmare
Rise announces discontinuation of virtual card services by September 30, 2024. Carbon pulls the plug on its debit card operations earlier this year.
Carbon's debit card suspension questions viability of card business for fintech startups
Nigerian fintech Carbon suspended its debit card service. Fintechs struggle with the cost of card operations and the lack of revenue opportunities.
Nigerian fintech Carbon discontinues debit card service nearly 3 years after launch
Carbon shuts down its debit card service in Nigeria after two years. Co-founder and CEO, Ngozi Pascal Dozie, questions the strategy of neobanks pushing for card operations.
Carbon Strengthens Digital Banking for Nigerian SMEs With Vella Finance Buyout
Carbon acquires Vella Finance to expand financial services for SMEs. Vella Finance offers comprehensive solutions for cross-border payments, bookkeeping, invoicing, and business loans.
