Many African fintech startup companies shut down their virtual dollar card services after a reported “chargeback” fraud. On Friday, Nigerian fintech company Flutterwave sent a message to its Barter customers that the virtual dollar cards will be unavailable for any transactions and payments. According to TechCrunch, other fintech startups including Eversend, Klasha, Busha, GetEquity, and Payday followed suit and informed customers that virtual dollar card services would be discontinued between 17 July and 18 July. Union54 is a financial technology company that offers card issuing services without needing a third-party processor. By Zintle NkohlaFollow Zintle Nkohla on TwitterFollow IT News Africa on Twitter

Source: The North Africa Journal July 18, 2022 11:08 UTC