Kuda bank tagged “bank of the free” has partnered with Visa, a leading global digital payment company to offer digital and physical visa cards to its customer for free.
The challenger bank of African, in a recent statement, said that the bank’s offering of zero fees on card and account maintenance was to attract millennial customers and also deliver a convenient transaction platform.
According to the bank, switching from a third-party card provider to a direct issuer of the physical and virtual card shows a significant growth in bank operations.
Kuda Technologies CEO, Babs Ogundeyi said, “Visa inspires confidence, and partnering with them to help us offer reliable card services independently has been one of our top priorities since Kuda launched in 2019. We’re proud that we’ve finally made this happen and we look forward to promoting cashless payments across Africa together.”
“The rapid pace of technology innovation has driven a powerful shift in business and consumer expectations in financial services,” said Andrew Uaboi, Country Manager, Visa Nigeria.
“Whether it is changing the way people invest, manage money, receive loans, or send real-time payments to friends and family, Visa is a natural partner for fintech including Kuda, providing them with new ways to reach their customers through Visa’s vast network and global scale. We look forward to expanding the partnership to other countries in Africa as Kuda continues to scale across the continent,” Uaboi said.
Kuda bank encourages its customers to request a free physical or virtual card. However, account holders must have a minimum balance of N1000 in their account before requesting the card.
Also, customers are to note that only the first request for a kuda card will be free of charge, subsequent requests either due to expiration, loss or damages will be charged a fee.
Kuda Mastercard holders can also request for Kuda Visa card, although the Mastercard will be deactivated immediately after the visa card is activated. This implies that Kuda bank customers can only have access to one physical card at a time, but can also request only one Kuda virtual card for online payment.