Pan-African fintech company Carbon has today announced a strategic five-year partnership with Visa to offer digital and physical debit cards to its customers.
Carbon will launch Visa debit cards in the third quarter of 2021, just one year after shifting from offering digital lending services to becoming a digital bank offering a range of financial services including, savings and payments.
By leveraging the new Visa partnership, Carbon will be able to commence the process in three key markets including Nigeria, Ghana, and Kenya.
The two firms coming together means financial support from Visa over the five-year partnership period. The funds will be also used to provide implementation and marketing support to help drive 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 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 fintech 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, which allows consumers zero percent financing on items they need the most but cannot afford immediately.