BD Insider, Letter 121

Today, virtual dollar cards from Union54, the leading card-issuing API in Africa will stop working. What does this mean for me as a consumer or a fintech issuing virtual dollar cards?

BD Insider, Letter 121
President Buhari and virtual dollar card providers that are unavailable in Nigeria
⚠️
Editor's Note: Last week you received an erroneous mail from us about Stitch and Paystack's payout in South Africa. That wasn't the final form of that article and as such doesn't showcase our best. We completely overhauled it and you can read the revamped article about Why Stitch and Paystack launched Payout in SA.

Virtual dollar cards have been the rave since last week Friday when Union54, a leading card-issuing API startup announced that it was going to pause its service to build a more "resilient product". Union54's CEO Perseus Mlambo said that "the pause on service is part of a necessary compliance audit" which will take place within two weeks.

Not many people know what exactly is going on. But we've graciously written a detailed piece that currently ranks as a Top Story on Google Search. You will find the link to the piece in the noteworthy from African press section below.

For this week's newsletter, Letter 121, we will touch on:

  • Kora's response to money laundering allegations in Kenya
  • Why ECOWAS Court declared Nigerian Twitter ban illegal
  • inDriver's regulatory compliance engagement with Lagos authorities
  • the latest African Tech Startup Deals (in PNG and a live format)
  • job opportunities, events, and more.