Nigerian fintech startup Wallets Africa has reportedly expanded its partnership with global payment firm Visa to roll out debit cards in Nigeria.
The firm, which has tie-ups and integrations with other cards, banks, and switch providers in Nigeria, is launching the card as part of Visa’s Fintech Fast Track Programme.
It started issuing virtual dollar cards to its users in September this year.
Wallets Africa is now gearing up to launch physical naira and dollar Visa cards, according to a report by TechPoint.Africa.
Both virtual and physical cards are intended for business users who look to initiate local and international transactions.
Visa Fintech Partnerships vice-president Otto Williams has been quoted by the publication as saying: “The Wallets Africa team has made tremendous progress in a short time. I am impressed with the fact that they’ve successfully enabled Visa prepaid cards that work everywhere to thousands of digital natives and entrepreneurs in Nigeria. I look forward to seeing what they’ll do in other African countries soon.”
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Founded by John Oke in 2018, Wallets Africa help its customers carry out financial transaction through digital wallets using a card and an app.
The fintech firm is said to have 4,000 businesses on its platform in addition to its more than 60,000 individual users.
Visa’s Fintech Fast Track Programme
Visa’s Fintech Fast Track Programme aims to help fintech companies offer innovative payment experiences by providing them with ecosystem partners, online licensing, and APIs.
This initiative, which was launched in 2018 for European fintech startups, has expanded itself to include startups from all major countries.
In September this year, online payments processor Checkbook joined the programme and rolled out its virtual cards for real-time payments.
This June, digital payments provider BPC joined the initiative to help fintechs scale their business more quickly.
In May this year, Soft Space decided to join Visa’s Fintech Fast Track programme, becoming the first fintech partner to do so in Malaysia.