Paymentology, the leading global issuer processor, in partnership with Union54, a Zambian fintech is set to launch a USD virtual Mastercard debit card on ChitChat Social Commerce platform.
Leveraging over two decades of expertise, Paymentology provides its next-generation payment platform to support Union54’s expansion of ChitChat in Zambia and other African markets during this critical growth phase.
“The internet has transformative potential for both individuals and governments. Our goal is to create secure and efficient spaces for communication and transactions,” Perseus Mlambo, CEO of Union54 said in a statement.
“Partnering with Paymentology provides us with the reliability, security, and scalability needed to elevate our offerings. This collaboration will empower our customers with the advanced tools necessary for seamless communication and financial transactions.”
Founded in 2021 by entrepreneurs Perseus Mlambo and Alessandra Martini, Union54 has quickly gained prominence in Africa’s fintech sector. Its flagship product, ChitChat, enables users to communicate, network, transfer money between wallets, convert USD to local currencies, and send in-app funds to other ChitChat users.
With the help of Paymentology’s cloud-first, API-driven technology, users can now conduct both in-person and online transactions using their ChitChat virtual Mastercard debit card.
This partnership comes at a time of rapid growth in Zambia’s digital payments sector. With 16.4 million mobile connections representing 78.7 percent of the population, and a projected market growth for digital payments of 16.12percent from 2023 to 2027, reaching a size of $8 billion, Zambia is primed for innovation in financial services.
By integrating communication and secure financial transactions on one platform, Union54’s ChitChat has the potential to drive significant economic growth, foster entrepreneurship, and enhance financial inclusion throughout Africa.
“We are thrilled to expand our collaboration with Union54, an organisation that is at the forefront of innovation in Africa and committed to making a tangible difference in people’s lives,” said Kirsten Wortmann, Africa Regional director at Paymentology.
“Supporting the ChitChat app at this critical juncture in its growth is a testament to our shared vision of empowering users with safe and efficient payment solutions. We look forward to continuing our support and delivering next-generation solutions to serve the African market.”
This collaboration between the two key players aims to champion an inclusive digital economy, reinforcing their shared commitment to making transactions safe and accessible for everyone.
