Introducing ChitChat and Mastercard's all-new virtual debit card

Source: Supplied.

The application boasts an interactive chat functionality where users can discuss expenses directly and enable them to instantly transfer funds using the virtual card, without any fuss.

Through the launch of ChitChat’s virtual card, cross-border payments will be accelerated and transactions that traditionally required a bank visit, extensive paperwork, and enduring several days of waiting with high fees can now be done instantly within the application. Additionally, users can store funds in multiple currencies, offering protection against local currency fluctuations and inflation, and simplifying cross-border transactions.

“We are thrilled to partner with Mastercard to launch the ChitChat virtual debit card, a tool that will redefine how individuals and businesses in Africa interact with money and access global services,” said Perseus Mlambo, chief executive officer of ChitChat.

“By integrating local economies with the global market in a secure and convenient chat platform, we empower our users with instant transactions that transform everyday interactions and unlock new economic opportunities across the continent.”

Digital payment revolution

Gabriel Swanepoel, country manager at Mastercard said, "Mastercard is excited to partner with ChitChat to introduce the virtual debit card, providing a faster, more affordable, and accessible way to conduct global transactions.

"At Mastercard, we are actively engaged in building the African domestic payment ecosystem connecting partners through digital solutions and technology, extending acceptance infrastructure, and aiming to connect one billion people to the digital economy by 2025.

"Moreover, our partnership with ChitChat will empower them to manage their consumers' digital commerce needs, interactions, and experiences. We will provide multi-use, omnichannel digital payment solutions that enhance operational efficiency and enable a seamless transition into digital commerce."

This move significantly expands ChitChat's services beyond simple messaging, positioning it as a multi-functional application offering a comprehensive link between social and financial needs.

Furthermore, this collaborative effort aims to connect and empower an inclusive digital economy for all, reinforcing Mastercard's global commitment.