Nigerian Crypto Exchange Bitmama Suspends Virtual Mastercard Services

Bitmama, a cryptocurrency trading platform in Nigeria, has temporarily suspended its virtual Mastercard service due to unforeseen issues with its provider. Currently, African fintech companies are facing challenges with card services, including exchange rate fluctuations, payment fraud, and inadequate funding. Some fintech companies blame provider issues, while others mention high costs and limited revenue opportunities. Despite these obstacles, some fintech companies such as Bitmama and Chipper Cash continue to offer alternative card services.