Zambia’s Union54 is bringing virtual debit and credit cards to the unbanked ...Middle East

Quartz - Economy
Zambia’s Union54 is bringing virtual debit and credit cards to the unbanked
source : Quartz ( Middle East ) () 24
The rise of e-commerce on the continent, plus greater access to global supply chains, presents enormous upside for both buyers and sellers. But taking advantage of that upside still often requires access to bank-underpinned debit and credit cards.In Zambia, only 10% of the adult population use a debit card.In 2021, Perseus Mlambo and Alessandra Martini—an entrepreneur couple—founded Union54, Zambia’s first Y-combinator backed startup, as a fintech spinoff from Zazu, a challenger bank they set-up about six years earlier. Challenger banks are niche specialists that offer distinct tech-backed financial services not available at major or legacy banks.Read the rest of this story on qz.com. Become

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