* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, August 8, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Peacock’s Biggest Action Show Streams 2 New Episodes Sooner Than You Think – yahoo.com

    Peacock’s Hottest Action Show Drops 2 New Episodes Sooner Than Expected!

    Themed Entertainment Design – Purdue Polytechnic

    Innovative Themed Entertainment Design: Creating Immersive Experiences

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    ‘Billie Jean’ – Hyde Park Herald

    The Enduring Magic Behind ‘Billie Jean’ Revealed

    Hank Hill returns to a changed world in new ‘King of the Hill’ episodes – New Haven Register

    Hank Hill Navigates a Bold New World in Thrilling New ‘King of the Hill’ Episodes

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    MBU showcases student work at Occupational Therapy Technology Fair – WHSV

    Discover the Most Innovative Student Projects at the Occupational Therapy Technology Fair

    BlackSky Technology Inc. (BKSY) Reports Q2 Loss, Lags Revenue Estimates – Yahoo Finance

    BlackSky Technology Inc. Reports Q2 Loss, Misses Revenue Targets

    Improved Technology Access: A Key to Closing the Healthcare Gap for African Americans – BIOENGINEER.ORG

    LMI Expands Technology Org, Appoints New Leaders – GovCon Wire

    LMI Expands Technology Team with Dynamic New Leadership Appointments

    Midland Innovation and Technology Charter School closing down – CBS News

    Midland Innovation and Technology Charter School Closes Permanently

    Future Trends In HR Technology – Dataconomy

    Future Trends In HR Technology – Dataconomy

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Peacock’s Biggest Action Show Streams 2 New Episodes Sooner Than You Think – yahoo.com

    Peacock’s Hottest Action Show Drops 2 New Episodes Sooner Than Expected!

    Themed Entertainment Design – Purdue Polytechnic

    Innovative Themed Entertainment Design: Creating Immersive Experiences

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    ‘Billie Jean’ – Hyde Park Herald

    The Enduring Magic Behind ‘Billie Jean’ Revealed

    Hank Hill returns to a changed world in new ‘King of the Hill’ episodes – New Haven Register

    Hank Hill Navigates a Bold New World in Thrilling New ‘King of the Hill’ Episodes

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    MBU showcases student work at Occupational Therapy Technology Fair – WHSV

    Discover the Most Innovative Student Projects at the Occupational Therapy Technology Fair

    BlackSky Technology Inc. (BKSY) Reports Q2 Loss, Lags Revenue Estimates – Yahoo Finance

    BlackSky Technology Inc. Reports Q2 Loss, Misses Revenue Targets

    Improved Technology Access: A Key to Closing the Healthcare Gap for African Americans – BIOENGINEER.ORG

    LMI Expands Technology Org, Appoints New Leaders – GovCon Wire

    LMI Expands Technology Team with Dynamic New Leadership Appointments

    Midland Innovation and Technology Charter School closing down – CBS News

    Midland Innovation and Technology Charter School Closes Permanently

    Future Trends In HR Technology – Dataconomy

    Future Trends In HR Technology – Dataconomy

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

YC-backed Miden has big ambitions in challenging virtual card space

February 21, 2024
in Technology
YC-backed Miden has big ambitions in challenging virtual card space
Share on FacebookShare on Twitter

Dom Okiemute and Ini Udoh started Miden to increase the speed of card issuance in Nigerian financial institutions.

For a fintech startup, cards are essential to drive payment volume and grow customer base.

However, issuing these cards can be complex and time-consuming because fintechs do not have the size and resources to join major card schemes like Mastercard, Visa, and Verve directly. To work around this, Fintechs partner with established banks that act as issuing partners.

The average time to build a card integration system within a bank was about 6-12 months,
say Okiemute and Udoh, who have a combined 13 years of experience building financial systems across Nigerian banks.

Miden’s solution, which moves the wait time for cards from months to weeks, earned them a place in YC’s winter 2024 batch.

Miden lets businesses issue virtual cards in USD and Naira through customizable and easy-to-use API—a drag-and-drop interface—and pre-built integrations with flexible customization options. According to its website, Miden has issued over 100,000 cards and operates in four countries.

“Card penetration is directly proportional to financial inclusion in Africa,” Okiemute told TechCabal, emphasizing the link between card penetration and financial inclusion in Sub-Saharan Africa. The impressive financial growth in Latin America, partly driven by the success of Pismo and Pomelo, which focus on card payments, drives home his point.

“We decided to go into the space and solve the problems,” he said.

Getting into YC’s latest batch was the icing on the cake and validated their decision to build in stealth for six months.

Now approaching its first year, it claims to serve 25 businesses while processing ₦3.5 billion ($3.2 million) monthly. The business also recently said it has $100,000 monthly recurring revenue (MRR).

“We’ve been able to acquire not just users of other platforms, competitors now leverage our platform,” he said.

Miden makes money by charging transaction fees on the cards they issue. It also charges subscription or usage-based fees for businesses accessing their platform and issuing cards. The business claims to have a 99% uptime.

Miden’s speedy entry into the $134.4 billion card market has not been without its challenges. According to Okiemute, Miden has struggled to find talent to build its solution. “People with localized domain knowledge are scarce,” he said.

While Miden’s plans are ambitious, the startup is playing in a field rocked by chargeback fraud, costing businesses hefty fees and potential shutdowns. In November 2023, Union54, a Zambian fintech shut down after an attempted $1.2 billion chargeback fraud. Additionally, fluctuations in the Nigerian currency pose risks for USD-based virtual cards.

Looking ahead, Miden says it will expand its ambitions beyond virtual cards, aiming to become a full-fledged core banking provider offering physical USD cards and potentially other functionalities.

Get the best African tech newsletters in your inbox

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TechCabal – https://techcabal.com/2024/02/21/yc-backed-miden-in-virtual-cards-space/

Tags: MidentechnologyYC-backed
Previous Post

Desperate measures? Binance limits USDT/NGN trading as Naira slide worsens

Next Post

How to print or reprint your 2024 JAMB exam slip

Netflix Scores Canadian Rights To FIFA Women’s World Cup For Next Two Tournaments – Deadline

Netflix Scores Canadian Rights To FIFA Women’s World Cup For Next Two Tournaments – Deadline

August 8, 2025
Professor Emeritus Peter Temin, influential and prolific economic historian, dies at 87 – MIT News

Renowned Economic Historian Professor Peter Temin Passes Away at 87

August 8, 2025
Peacock’s Biggest Action Show Streams 2 New Episodes Sooner Than You Think – yahoo.com

Peacock’s Hottest Action Show Drops 2 New Episodes Sooner Than Expected!

August 8, 2025
Nebraska doctors struggling with mental health issues had nowhere to go, until now – KSNB

Nebraska doctors struggling with mental health issues had nowhere to go, until now – KSNB

August 8, 2025
White House readies order to fine banks for dropping clients over politics, WSJ reports – Reuters

White House readies order to fine banks for dropping clients over politics, WSJ reports – Reuters

August 8, 2025
Icing‐related injuries in polar bears (Ursus maritimus) at high latitudes – Laidre – 2024 – Ecology – ESA Journals

Frozen Peril: The Devastating Impact of Icing Injuries on Polar Bears in the High Arctic

August 8, 2025
Carnegie Science Center launching new name in September – CBS News

Carnegie Science Center Unveils Exciting New Name This September

August 8, 2025
Petersburg youth explore Coho Creek for science education – Petersburg Pilot

Petersburg Youth Dive into Science with Hands-On Exploration of Coho Creek

August 8, 2025
Is there a path to healthier aging? What the latest research shows | Bodyworks – The Oklahoman

Is there a path to healthier aging? What the latest research shows | Bodyworks – The Oklahoman

August 8, 2025
MBU showcases student work at Occupational Therapy Technology Fair – WHSV

Discover the Most Innovative Student Projects at the Occupational Therapy Technology Fair

August 8, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (760)
  • Economy (783)
  • Entertainment (21,660)
  • General (16,352)
  • Health (9,823)
  • Lifestyle (793)
  • News (22,149)
  • People (784)
  • Politics (793)
  • Science (15,996)
  • Sports (21,280)
  • Technology (15,763)
  • World (766)

Recent News

Netflix Scores Canadian Rights To FIFA Women’s World Cup For Next Two Tournaments – Deadline

Netflix Scores Canadian Rights To FIFA Women’s World Cup For Next Two Tournaments – Deadline

August 8, 2025
Professor Emeritus Peter Temin, influential and prolific economic historian, dies at 87 – MIT News

Renowned Economic Historian Professor Peter Temin Passes Away at 87

August 8, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version