Zambian social commerce platform ChitChat, in collaboration with Mastercard, has introduced new virtual debit cards aimed at streamlining cross-border payments.
ChitChat is a social commerce platform developed by Union54 to facilitate peer-to-peer money transfers via digital wallets within chat conversations. The app’s virtual debit card integrates smoothly into the platform’s messaging service, allowing users to coordinate expenses and make instant transfers.
ChitChat’s virtual card aims to streamline financial transactions by allowing users to conduct instant in-app transactions without the need for bank visits or extensive paperwork, thus reducing fees. It enables users to store funds in various currencies, offering protection against local currency fluctuations and inflation, while facilitating convenient cross-border transactions. This partnership enhances the ChitChat app by providing a comprehensive solution for online shopping, subscription payments, and real-time money transfers across the continent, all integrated within the messaging interface.
ChitChat is available in countries such as Zambia, Ghana, Tanzania, and Angola, with plans to expand remittance services to China, India, Zimbabwe, and South Africa. The platform aims to operate in over 30 countries by the end of 2024, positioning itself as a key driver of economic growth and financial inclusion across Africa.
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