Flutterwave and klash have recently discontinued virtual card services on their apps. Flutterwave has advised her customers to unlink their dollar cards from any recurring payment plans they have committed to in the past. Also, they will not be able to fund existing cards.
Klash gave an update after they discontinued their card service. They claim they are not folding up card services, as they are planning to switch to a visa card partner instead of the master card they used previously.
What you should know!
Barter and klash use a Mastercard virtual card service known as union54. Industry insiders claim union54 is exiting Nigerian, hereby fintech which uses them as a partner has discontinued their card services.
There has been a recent surge in the accusations charged against fintech in Nigeria for fraudulent transactions. Maybe it’s false, flutterwave and klash put up a mail to their subscribers claiming they will no longer provide virtual card services for an extended time.
The sudden changes brought up a lot of questions as the fintech space has been experiencing a lot of heat lately about fraud. Korapay was recently charged for money laundering as over $381,065.29 was frozen in 3 account that belongs to Kora pay and kadon technologies.
Amidst all these allegations, flutterwave has denied the allegations claiming it has records to back up its claims.
Flutterwave’s response stated the company has “a responsibility to ensure the integrity of the ecosystem, and we pledge our commitment to continue working with all stakeholders to uphold this. We are working to ascertain the motive behind the false claims, and have the records straightened
As flutter wave no longer offers virtual card services, let’s know in the comment box which virtual card you are using to spend dollars online?