Leading social commerce platform ChitChat has partnered with Mastercard to introduce virtual debit cards. This unique cooperation will allow users to transact and purchase online, manage subscription payments, and transfer cash across the continent in real-time via the ChitChat app’s chat interface.
In addition to enabling users to transfer payments rapidly using the virtual card without any hassle, the program features an interactive chat mode that allows users to discuss spending directly.
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Cross-Border Payments Made Easy with ChitChat
ChitChat’s virtual card will speed up cross-border payments and allow transactions that previously needed a bank visit, considerable documentation, and days of waiting with exorbitant fees to be completed quickly via the app. Users may also keep funds in several currencies to hedge against local currency volatility and inflation and facilitate cross-border transactions.
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Perseus Mlambo, ChitChat CEO, said the company was excited to work with Mastercard to debut the ChitChat virtual debit card, changing how Africans use money and access worldwide services. By linking local economies with the global market in a safe and easy chat platform, we empower our users with rapid transactions that revolutionise everyday interactions and open new economic opportunities throughout the continent.”
Gabriel Swanepoel, Mastercard’s Country Manager, stated, “Mastercard is thrilled to debut the virtual debit card with ChitChat, making worldwide transactions faster, cheaper, and easier. Mastercard is working to create the African domestic payment ecosystem by linking partners through digital solutions and technology, expanding acceptance infrastructure, and connecting one billion people to the digital economy by 2025.
In addition, our partnership with ChitChat will allow them to meet clients’ digital commerce needs, interactions, and experiences. We will provide multi-use, omnichannel digital payment solutions to improve operational efficiency and ease the move to digital commerce.
As a result of this move, ChitChat’s services have greatly expanded beyond basic texting, and it is now positioned as a multi-functional program that provides a complete link between social and financial requirements. In addition, this joint initiative aims to link and empower an inclusive digital economy for everyone, confirming Mastercard’s commitment to operate on a global scale.
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About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere, by making transactions safe, simple, intelligent and accessible.
Through secure data and networks, collaborations, and strong enthusiasm, our ideas and solutions assist individuals, financial institutions, governments, and enterprises in realising their full potential. Our culture, as well as all that we do within and outside our organisation, is driven by our decency quotient, often known as DQ. Through our relationships spanning over 210 nations and territories, we are working to create a sustainable world that can unleash precious opportunities for everyone.