Startup - July 22, 2022

Here are 5 Alternatives to Flutterwave’s Virtual Card

ebubejulius July 22, 2022

7 min read

Barter card, a virtual card service offered by Flutterwave, has been suspended because of what the company stated as “an update from our card partner, which will cause the card service to be unavailable for an extended period.” Many Nigerians who depend on this avenue for their dollar transactions are now on edge due to this.

Using your regular bank debit card for international internet purchases like paying for Facebook ads, Amazon, Google, Spotify, or even Netflix subscriptions can be challenging.

Furthermore, it becomes nearly impossible to conduct foreign business due to Nigerian banks’ $20 daily cap on overseas transfers. It’s interesting that many Nigerians have found a solution to this with the advent of virtual cards.

Why Flutterwave, Eversend, and other African Startups are Shutting Down their Virtual Dollar Card Service

Other virtual dollar card services available in Nigeria

Many people had relied on Flutterwave’s Barter to provide virtual card services, but the suspension, which will take effect on July 17, 2022, will prevent users from making purchases or foreign payments on the platform. Here are five additional options:

Chipper Cash

A pre-funded, reloadable virtual Visa card called the Chipper Cash Card can be used to make online purchases. The card functions similarly to how your local bank card functions online.

The card is accepted everywhere Visa cards are accepted for online purchases. It may also be used to simply purchase anything online with your Chipper cash wallet, including Netflix subscriptions, flights, and other services.

Tier 1 and Tier 2 wallets and accounts are available on Chipper Cash. While the app’s tier 2 wallet gives you access to more functions, the tier 1 wallet has numerous restrictions. According to Chipper Cash, it provides 5% cash back on every purchase.

ALAT Virtual Dollar Card

Wema Bank, a commercial bank operating in Nigeria, manages the digital-only brand ALAT.

It provides a full range of financial services, including bank accounts, actual debit cards, savings accounts, loans, and is among the top virtual dollar cards available in Nigeria.

Once your account is established and funded, you can load up to $20,000 onto your card directly from your Naira balance and, if necessary, convert the dollars back to Naira. However, it is incompatible with 3D Secure and cannot be used on websites that facilitate money transfers.

Wallets Africa

A Nigerian firm called Wallets Africa provides both digital and physical naira and dollar cards. Given the genuine nature of these credit cards, they are excellent for travel, which many Nigerians find difficult due to the rise in theft.

This digital wallet is risk-free for travellers who don’t want a real card to be visible while they’re on the go. Your billing information will remain secret if you only supply your email address at checkout.

The cost of this, however, is a monthly fee of $1, a $0.75 fee for each foreign transaction, and a 2 percent tax for external account loading.

Fundall

A digital bank based in Nigeria called Fundall offers both personal and commercial customers a wide range of financial services, including loans and savings accounts, in addition to bank accounts and budgeting tools.

They just introduced a virtual dollar card that allows users to spend money online without restrictions. The first card is available for free with a $5 minimum load.

Mintyn Bank

The Minty Bank Virtual Dollar Card offers various advantages to independent contractors, business owners, retailers, and sole proprietors who conduct operations both domestically and abroad.

Customers can pay for foreign services like Amazon, Apple Music, Netflix, eBay, WordPress, and many more with Mintyn’s Virtual Dollar Card, a virtual dollar-denominated card.

A customer must sign into their account on the Mintyn app and activate a personal Virtual dollar card, which takes less than a minute, before they can profit from the many features offered by Mintyn’s Virtual Dollar Card.