Nigerian cryptocurrency exchange Bitmama suspends virtual Mastercard services
2024-12-03 07:13:12
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Nigerian cryptocurrency exchange Bitmama has temporarily suspended its virtual Mastercard service due to unforeseen issues with its providers. The current situation comes as African fintech companies are facing card service challenges, including exchange rate fluctuations, chargeback fraud and insufficient funding. Some fintech companies blame provider issues, while others cite high costs and limited revenue opportunities. Despite these obstacles, some fintech companies such as Bitmama and Chipper Cash continue to offer alternative card services.
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