Pan-African fintech company Carbon (ng.getCarbon.co) has announced a five-year strategic partnership with global payments service company Visa to offer both digital and physical issuance of debit cards to its customers.
Carbon will be launching Visa debit cards in the third quarter of 2021 with issuance planned to begin in three key markets Nigeria, Kenya and Ghana. This move comes about a year after the fintech shifted from just a digital lending company to a digital bank offering a range of financial services including, savings and payments.
This partnership between both firms includes financial support from Visa, whose funds will be used to provide implementation and marketing support. This is all with an aim of driving further growth and adoption of Visa’s payment solutions across Carbon’s products.
“Carbon is focused on delivering an unparalleled banking experience that is both safe and reliable across all touchpoints,” said Chijioke Dozie, CEO/Co-founder of Carbon. “We want more customers to enjoy some of our popular products like Carbon Zero through their Carbon card, and key to achieving this is our partnership with a leading payments and fintech-friendly company like Visa.”
“The rapid pace of technology innovation has driven a powerful shift in business and consumer expectations in finance,” said Kemi Okusanya, Vice President, Visa West Africa. “Whether it is changing the way people invest, manage money, receive loans, or send real-time payments to friends and family, Visa is a natural partner for fintechs including Carbon, providing them with new ways to reach their customers through Visa’s vast network and global scale.”
Adding Visa cards to its payments stack will also enable easier access to Carbon Zero, the company’s Buy Now Pay Later product. This service allows consumers zero percent financing on items they need the most but cannot afford immediately.