American Express has launched a card for Nigerian users🇳🇬

American Express has launched a card for Nigerian users🇳🇬

The business credit card is available exclusively for business owners. The new business credit card is the result of the collaboration between American Express and the Nigerian digital bank O3 Capital.

➡️ It has a limit of 10 000 USD and a payment period of up to 45 days for international transactions.

➡️ O3 plans to issue 16 thousand American Express cards by the end of 2024 and another 1 million over the next 5 years… Clearly, this is a challenge for businesses; but the bank is already considering cards for personal and domestic use, for business trips and family members of businessmen.

➡️ American Express, for its part, intends to expand its operations in Africa from the current 30 countries to 42.

👀 To keep in mind: according to Statista data, in 2023 in Nigeria card payment was the most popular method for retail online payments, accounting for over 37% of online payments. In second place are bank visits (29%), followed by money transfers (16%)

#Africa #news