Zambian startup Union54, which specializes in fintech, has announced that it’s developing Africa’s first card-issuing API.
According to TechCrunch, the company founded by Perseus Mlambo and Alessandra Martini claims to be Africa’s first card-issuing API — and while, technically, they’re correct, they initially thought of the idea when they were part of Zazu, their previous startup.
Back then, Zazu — which was launched in 2015 — was considered a “challenger bank,” and had to rely on outside vendors to issue debit cards to customers. According to Mlambo, some customers waited as long as 18 months to get a debit card issued in their name.
“We just realized that either the processor or the bank was not necessarily well equipped to be able to answer our questions or to be able to give us the product that we’re looking for,” the founder of the Zambian startup said in an interview with the outlet. Continue reading
(Image Credits: Luis Alvarez)