Fintech · Customer since 2025
Ferrous Pay
A consumer finance app issues multi-currency cards to customers in four African markets.
- card programmes launched in 18 months
- 4
- daily settlement file across markets
- 1
- average FX cost on card spend abroad
- 1.2%
Illustrative figures for a fictional customer.
The challenge
Ferrous Pay offers savings and spending accounts to customers in Nigeria, Kenya, Ghana and South Africa. Customers wanted a card that worked for online purchases abroad, priced without large conversion fees.
Launching a card programme in each country separately would have meant four sponsor relationships, four settlement processes and four reconciliation files every day.
The solution
Ferrous Pay issues virtual and physical cards through one Card Issuing integration, with spend controls and real-time authorisation decisions handled in its own app.
Settlement consolidates card activity across all four markets into a single daily file and a predictable funding schedule, so the treasury team manages one position instead of four.
We wanted to build the product, not the plumbing. Issuing and settlement in one place let us do that.
See what we could do for you
Run your numbers in the calculator, or talk to us about your markets.