Zambian Startup Developing Africa’s First Card-Issuing API

Union54 (54 is a nod to the number of African countries) is a fintech company founded by Perseus Mlambo and Alessandra Martini. The startup claims to be Africa’s first card-issuing API and only just launched this year. But to paint the picture, Union54 didn’t come out of thin air; it is a project from the couple’s earlier startup Zazu. Zazu was launched in 2015 as a challenger bank in Zambia. As with any fintech on the continent, Zazu had to create its own debit cards that users could connect to a wallet. Most times, Zazu would have to wait months for partner banks in the country to issue these cards. Mlambo tells me that at one point they had to wait for 18 months. As a principal member, Zazu became authorized to act as an “issuing bank.” In other words, they can provide debit cards and as “acquirers,” which means they can provide transaction processing services.

Being able to do this gives Union54 bragging rights as Africa’s first card-issuing API. Fintechs have rarely looked at this opportunity; most are focused on other segments from payment gateways to wallets. It’s an interesting point to note because somehow, all the big players in these segments end up trying to create virtual and physical cards for their customers and face complications doing so. That’s the void Union54 wants to fill, and although it’s currently in beta, the company boasts of an impressive unnamed clientele signed up on its wait list and currently using the platform. Fintechs using Union54 are also allowed to design the cards and set the currency in which they want the cards to be charged and set an extensive catalog of who will use them, what they will be used for, when they will be used and how they will be used.

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