Risevest shuts down virtual cards

• Published On: 25 September 2024 at 17:35

Risevest, an investment platform, announced today that its virtual card will be discontinued effective September 30th.

In an email to users, Risevest blamed the shutdown on card provider issues, "fluctuating exchange rates, and delays in issue resolution."

Risevest stated that any funds remaining on the cards after the shutdown will be automatically transferred to the Rise wallet once the service is no longer active.

Risevest also stated that, while this may be disappointing to some, the company "remains committed to developing better tools that align with [your] evolving financial needs."

Risevest's virtual card shutdown comes months after another Nigerian fintech, Carbon, shut down its virtual card service.