Zambian fintech, Union54, has partnered with next-generation payment platform, Paymentology, to launch virtual Mastercard debit cards on its ChitChat social platform.

Perseus Mlambo, CEO of Union54, who made the disclosure in a statement on Friday, said the partnership was timely as it was coming at a time of rapid growth in Zambia’s digital payments sector.

“With 16.4 million mobile connections representing 78.7% of the population, and a projected market growth for digital payments of 16.12% from 2023 to 2027, reaching a size of US$8,441.00 million, Zambia is primed for innovation in financial services,” he said.

“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.

“Building on the recent launch of Union54’s ChitChat—a messaging app with an integrated payment wallet—this collaboration introduces a USD virtual Mastercard debit card to the 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.”

Union54 which was founded in 2021 by entrepreneurs Mlambo and Alessandra Martini, has quickly gained prominence in Africa’s fintech sector with its flagship product, ChitChat, enabling 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,” Mlambo said.

“The internet has transformative potential for both individuals and governments. Our goal is to create secure and efficient spaces for communication and transactions. 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.”

South African female empowerment organisation, WomHub, has signed a partnership deal with Visa Foundation to launch the ‘STEM is Everywhere” programme which is designed to empower and support early-stage female founders in STEM (Science, Technology, Engineering, and Mining and Manufacturing) businesses.

CEO of WomHub, Anjani Harjeven, who announced the deal, said the ‘STEM is Everywhere” programme will provide female entrepreneurs with business resources, coaching, and access to WomHub’s innovation and tech hubs and networks.

“WomHub is a leading organisation dedicated to empowering women and girls in STEM, which through education, mentorship, and support strives to create a diverse and inclusive engineering and tech industry,” she said.

“Through this partnership, WomHub and Visa Foundation are committed to closing the gender gap and unlocking the full potential of female entrepreneurs in South Africa. The ‘STEM is Everywhere” programme will support approximately 100 entrepreneurs in South Africa.

“This initiative aligns with our mission to empower women and girls in STEM, breaking down barriers and creating opportunities for the next generation of female leaders,” said Harjeven.