Carbon, a leading Nigerian digital bank, is set to resume its card services this month, marking a return after a six-month break. This relaunch comes with an optimized card distribution process aimed at enhancing customer convenience and addressing previous challenges.
The pause, which began in June 2024, allowed Carbon to reassess its card services. Rising costs from its international card provider and inefficiencies in the card delivery process had led the fintech to temporarily halt its offerings. These issues were particularly significant given Carbon’s commitment to delivering seamless financial solutions.
Since its transition from a lender to a fully digital bank, Carbon has positioned cards as a vital part of its service lineup, providing customers with quick and easy access to their funds. Recognizing the changing dynamics of card issuance in Nigeria—driven by the high dollar costs of Visa and Mastercard—Carbon is now exploring more cost-effective, locally-tailored solutions like Verve and Afrigo cards. While the company hasn’t disclosed its new card issuer, it remains focused on offering affordable and accessible services.
Carbon’s improved system ensures a smoother card collection and delivery process, eliminating inefficiencies from its earlier setup. As a neobank without physical branches or agent networks, cards remain essential for customer access to funds, complementing the growing popularity of bank transfers.
“Offering cards is not just about attracting new customers; it’s about retaining them and providing a key service that aligns with their daily banking needs,” a Carbon spokesperson explained.
This relaunch is a testament to Carbon’s dedication to evolving with market trends and enhancing its service delivery. It reflects the broader shift among Nigerian fintechs, where local card schemes like Verve and Afrigo are increasingly being adopted for their affordability and alignment with the needs of Nigerian consumers.
