Union54 Partners with Paymentology to Launch Virtual Mastercard Debit Card

Lusaka, Zambia – Zambian fintech company Union54 (YC S21) has announced an exciting development in its partnership with global issuer processor Paymentology . The collaboration will see the introduction of a USD virtual Mastercard debit card on Union54's messaging and payment app, ChitChat.

Union54, founded in 2021 by entrepreneurs Perseus Mlambo and Alessandra Martini, has quickly made a name for itself in Africa's fintech sector. Its flagship product, ChitChat, offers users a seamless combination of communication and financial transaction capabilities. With ChitChat, users can communicate, network, and transfer money between wallets, as well as convert USD to local currencies and send in-app funds.

The integration of Paymentology's cutting-edge, cloud-first, API-driven technology takes ChitChat to the next level. Users will now be able to use their ChitChat virtual Mastercard debit card for both in-person and online transactions, providing a truly comprehensive digital payment experience.

Zambia's digital payments landscape is experiencing rapid growth, with an impressive 78.7% of the population, or 16.4 million people, connected via mobile. This has fueled projections that the digital payments sector will boom, reaching an estimated $8.44 billion by 2027, with a growth rate of 16.12% from 2023 to 2027.

Union54 (YC S21) 's CEO, Perseus Mlambo , commented on the potential of their partnership with Paymentology : "Our goal is to create secure and efficient spaces for communication and transactions... This collaboration will empower our customers with the advanced tools necessary for seamless communication and financial transactions."

Kirsten Wortmann , regional director for Africa at Paymentology , echoed these sentiments: "We are thrilled to expand our collaboration with Union54... 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."

The introduction of the USD virtual Mastercard debit card by Union54 and Paymentology is a significant step forward in fostering an inclusive digital economy in Zambia and beyond. It reinforces their mutual dedication to making transactions safe, accessible, and innovative for all users.

About Union54:

Union54 (YC S21) is a Zambian fintech company, founded in 2021, that specializes in secure messaging and instant payment systems. Its flagship product, ChitChat, is a messaging app with an integrated payment wallet, enabling users to communicate and transact seamlessly.

About Paymentology:

Paymentology is a global card issuing and processing platform, leveraging over two decades of expertise to provide innovative payment solutions. The company is committed to supporting the growth of digital economies and empowering users with safe and efficient transaction capabilities.

For more information, please visit www.paymentology.com and onchitchat.com (Union54).