FinTech news in card issuing category

Union54 can reach an agreement with participating central banks and issue its own domestic and continental debit card, it can shorten settlement time and integrate more local payments native to the region. Mlambo also added that through his and a few colleagues’ work via the African Renaissance Conference, Union54 has gotten in touch with three central banks keen to explore how settlement agreements would work with a new card scheme.

Say a company uses Sudo Africa to issue cards for employee expense management; what happens is that employees are given cards with a low balance so whenever they need to use the card, an API is called each time to decide whether to approve or deny that transaction in real time.