Nigerian startup, Allawee, wants to restore fintechs’ confidence in cards
- Nigerian fintechs have been moving away from foreign card schemes due to economic pressures and increased bank transfer usage.
- Allawee is building infrastructure to help fintechs issue cards, including partnerships with companies like Piggyvest, Nomba, and Carbon.
- Carbon stopped offering cards in 2024 due to high costs but reintroduced them in 2025 with Allawee's support.
The evolution of card services in Nigeria's fintech sector, particularly through Allawee's innovative infrastructure, presents a significant opportunity for revitalizing card usage. As fintechs adapt to changing consumer behaviors and economic conditions, the ability to offer reliable and cost-effective card solutions could reshape the competitive landscape and enhance customer engagement.
