Nigerian fintech startup, Carbon inks five-year Visa deal

Pan-African fintech company, Carbon says it has signed a strategic five-year deal with Visa to offer both digital and physical issuance of Visa cards to its customers.

The plan is to launch the Visa debit cards around the third quarter of 2021 for its customers in Nigeria, Ghana, and Kenya. The deal also sees Visa provide funding to Carbon, which would be used "to provide implementation and marketing support to help drive further growth and adoption of Visa’s payment solutions across Carbon’s products."

Last year, Carbon had over 650,000 customers, processed $241.35 million in payments and $63 million in loan disbursements during its 2020 fiscal year.