Understandably, many people have different opinions about these events, but everyone in the tech space will agree that the annual Moonshot Conference hosted by TechCabal, is one of a kind.

At this year’s Moonshot event, Cardtonic leaders took the stage in a grand style. The spotlight was on a transformative panel session by the Growth lead, Tomisin Oduyemi, discussing “Scaling, Compliance, and the Cost of Growth for Fintech in Africa.” In addition, Cardtonic CEO Emmanuel Sohe delivered an inspiring speech on “Building Resilient Fintech Products for Africa’s Dynamic Economy.”

Both sessions left a lasting impression on attendees. If you missed the discussions, here’s a quick look at key insights shared by the Cardtonic’s leaders.

Why Scaling and Compliance Matter in African Fintech Today

Scaling as an Africa Fintech isn’t just about handling more users or transactions. It’s about expanding sustainably, while compliance ensures that this growth happens within safe, transparent, and legal boundaries. Together, they form the backbone of any fintech that hopes to grow in Africa’s digital economy.

Tomisin Oduyemi, Cardtonic’s growth lead, opened the panel session with a story that brought this to life.

She explained how, back in 2021, Cardtonic’s transaction volumes suddenly spiked. What happened was Nigerian cards had just been restricted for international payments, and both individuals and businesses were desperately looking for new ways to make cross-border purchases. That period brought a flood of users to Cardtonic, but it also came with a surge in fraud attempts.

“Imagine people creating fake profiles and trying to move money around at 2 a.m.,” Tomisin shared. “Unfortunately for them, it didn’t work.”

What protected the company was a safety feature that only allowed users to fund and withdraw from their own accounts. It was a small rule that made a big difference. 

Cardtonic’s Perspective on Responsible and Sustainable Scaling

Tomisin’s story opened the floor for a deeper discussion on what responsible growth truly means for fintechs operating in Africa.

Drawing from Cardtonic’s experience, Tomisin shared practical insights on how fintechs can expand sustainably while earning and maintaining trust across borders. Below are some of her views.

Understanding the Uniqueness of Each Market

According to Tomisin, one of the biggest mistakes fintechs make when expanding is assuming that compliance looks the same everywhere. “Compliance has never been a one-size-fits-all kind of shoe,” she noted.

She explained that each market has its own trust psychology, and ignoring that can damage credibility before a product even launches. For instance, rolling out a tax-related app in Nigeria without approval from the Federal Inland Revenue Service (FIRS) would instantly raise doubts about its legitimacy.

To avoid this, she advised that fintechs take time to identify key regulators, licenses, and documentation that might shape user perception and market access. “Before building that shiny new product,” she said, “try to understand what each market requires, both legally and emotionally.”

Building Practical Collaboration Across Borders

On the subject of uneven regulatory frameworks across Africa, Tomisin took a realistic stance. While regional harmonisation sounds ideal, she pointed out that every regulator is solving different local problems, so a single rulebook for the continent is not likely in the near future.

Instead, she emphasised the value of smaller, practical collaborations, regulators sharing learnings, aligning on core principles like KYC and data protection, and keeping communication channels open.

She also stressed that fintechs must lead by example. “If you build disciplined systems at home and engage regulators transparently, you’re more likely to be trusted when you expand elsewhere,” she explained. In her words, cross-border credibility begins with local responsibility.

How Compliance Shapes Cardtonic’s Growth Strategy

When asked how regulatory frameworks affect Cardtonic’s growth strategy, Tomisin explained that compliance is not a barrier but a guide. It defines how the company builds and communicates its products.

For instance, Cardtonic ensures that every product guide and video clearly explains KYC levels and what each tier allows users to do. “It makes us more deliberate about educating users,” she said.

Marketing is also handled with care. Every major campaign goes through ARCON approval before publication, ensuring transparency and accuracy.

“It keeps us diligent to timelines and helps us avoid overpromising,” she added.

While some fintechs slow expansion due to high compliance costs, Cardtonic has never had to deprioritise a market. The company believes in growing deeply before expanding wide, and that focus continues to pay off.

Cardtonic’s Journey and How It Has Shaped the Future of Digital Transactions in Africa 

And just when you thought you couldn’t get any more solid stuff from Cardtonic Leaders, Emmanuel Sohe, the CEO, decided to deliver a beautiful speech to inspire the next generation of fintech growth in Africa.

But, instead of giving a boring speech on “Building Resilient Fintech Products for Africa’s Dynamic Economy,” he chose to tell Cardtonic’s story of grit and adaptability.

He recalled how the 2021 CBN ban on crypto transactions forced the team to rethink everything. And within days, they had to rebuild the app, remove crypto features, and reshape Cardtonic into what it is today. That tough moment became the foundation for new solutions that now let users trade gift cards, pay local and international bills, and make global purchases with Cardtonic’s Virtual Dollar Card.

Emmanuel ended by reminding innovators that resilience means turning challenges into opportunities. “We didn’t give up on dreams,” he said, “we focused on value, discipline, and growth that lasts.”

Wrapping Up

This year’s Moonshot event was a spectacular one, and Cardtonic’s presence truly contributed to its success. From insightful panel discussions to powerful storytelling, the brand reaffirmed its position as one of Africa’s most forward-thinking fintechs.

As a Platinum Sponsor of the event, Cardtonic’s participation made an even greater impact, inspiring conversations around innovation, resilience, and the future of fintech in Africa.

The world is going digital, and so are our wallets. In fact, the global virtual cards market is booming, valued at $19.02 billion last year, with expectations to grow at a 21.2% CAGR over the next six years. 

Everyone—from the tech-savvy entrepreneur to your neighbour who just discovered Netflix—is looking for seamless, borderless payment solutions.

Nonetheless, even with the fanfare, Nigerian consumers encounter an ironic issue—while virtual dollar cards guarantee ease, affordability, and security, the reality is a maze of fees, spending limits, and fine print. Which one truly delivers? 

Here we have Vesti with premium services down to Cashwise Finance and Cardtonic’s budget-friendly alternative. Let’s dissect the best virtual dollar cards in Nigeria—helping you decide where to put your hard-earned cash.

1. Vesti Virtual Dollar Card

Card Creation Fee: $10

Security: Bank-level encryption, PIN authentication, and end-to-end encryption

Usability: Accepted on over 400 websites and apps, including Microsoft, Facebook Ads, Google Ads, immigration fees, and visa payments

Funding Method: Naira wallet

Spending Limit: Up to $10,000 per month

Maintenance Fee: None

Key Features

• The Vesti Virtual Dollar Card is designed for seamless online transactions and international payments.
• The card is prepaid, meaning users must fund it before use.
• No monthly maintenance fee, making it a cost-effective option.
• High spending limit of $10,000 per month, making it suitable for frequent online shoppers and professionals handling large payments.
• Easily managed through the Vesti app, where users can track transactions and even delete compromised cards.

Best for: Users who need a high spending limit and a one-time creation fee without recurring charges.

Downside: The $10 creation fee is on the high side compared to competitors.

2. Chipper USD Virtual Card

Card Creation Fee: $5

Monthly Maintenance Fee: $1 (charged by partner bank)

Usability: Functions like a physical debit/credit card for online payments

Funding Method: Chipper Wallet

Spending Limit: Varies (not explicitly stated)

Card Validity: Typically one year

Key Features

• Reloadable and pre-funded: Users can easily top up their virtual card from their Chipper Wallet.
• A $1 maintenance fee is deducted every 28th of the month—if the balance is insufficient, the fee accumulates and is charged when funds are added.
• Real-time exchange rates apply for Naira-to-USD transactions.
• If a card is deactivated, it cannot be reactivated, but users can request a new card.
• No fees for funding or withdrawing from the card, but an original credit transaction fee of 1% applies when receiving funds from external sources like Visa Direct.

Managing the Chipper USD Card’s Monthly Fee

To avoid unexpected deductions, users should maintain at least $1 on their card at all times. The accumulated fees are deducted automatically when the card is funded.

Best for: Users looking for a low-cost entry ($5 creation fee) and simple funding options.

Downside: Monthly maintenance fees accumulate even if the card is not in use.

3. Geegpay Virtual Dollar Card

Card Creation Fee: $3 (lowest among so far)

Funding Charges: $0.5 per transaction

Transaction Fees: $0.5 per transaction

Cross-border Fees: 0.9% on non-US websites (Mastercard standard)

Maintenance Fee: None

Spending Limits:

• Daily maximum: $500
• Monthly maximum: $5,000
• Maximum funding limit: $1,000 daily
• Minimum funding limit: $5

Key Features

• Best for freelancers: Supports Stripe, Deel, Fiverr, Brex, and Upwork payments.
• Users can generate up to three different cards for separate spending needs.
• Secure and encrypted: Supports two-factor authentication (2FA) for added security.
• Works with Apple Pay and Google Pay for contactless payments.
• Instant deposits and withdrawals ensure quick access to funds.
• No maintenance fees and no hidden charges, making it cost-efficient for regular users.

Why Geegpay Stands Out

• Unlike others, Geegpay allows multiple cards under one account.
• No monthly maintenance fee, making it cheaper than some others in the long run.
• Lower card creation fee ($3).

Best for: Freelancers, remote workers, and online shoppers who prefer multiple cards and fee transparency.

Downside: Lower spending limits compared to others.

4. Cashwise Finance Virtual Dollar Card

Card Creation Fee: $3

Maintenance Fee: $0

Funding Fee: $0

Transaction Fees: $0

Key Features

Transparent Pricing & Zero Hidden Fees

• One of the most interesting selling points of the Cashwise card is its clear pricing structure. There are no funding fees, no transaction fees, and no maintenance fees. The only cost is a $3 card creation fee, making it an attractive option for users who dislike unpredictable charges.

Best Exchange Rate in the Market

• Cashwise currently provides the most competitive USD-to-Naira conversion rates among virtual card providers, making it the most cost-effective option for cross-border transactions.

Long-Lasting Validity

• Most virtual dollar cards have a short lifespan, but Cashwise cards are valid for up to five years—one of the longest durations in the market. This is ideal for individuals who prefer long-term financial planning.

Wide International Usability

• Cashwise supports payments across various international platforms such as Meta Ads, Google Ads, Uber, Netflix, Alibaba, Namecheap, and more. Whether you’re shopping, running digital ads, or subscribing to global services, this card has you covered.

Additional Bill Payment Features

• Beyond virtual card transactions, Cashwise allows users to pay utility bills directly from the app. This feature is available in both Nigeria and the US, making it convenient for users who need multi-country financial solutions.

How to Get a Cashwise Virtual Dollar Card

Getting started with Cashwise is easy:

1⃣ Download the Cashwise Finance App

2⃣ Create an account and complete a quick KYC (Know Your Customer) verification

3⃣ Fund your dollar wallet and request your virtual card

Availability in Nigeria & the US

Unlike many virtual dollar cards that are exclusive to Nigerian users, Cashwise is available in both Nigeria and the United States. This makes it an excellent option for people who need cross-border financial solutions.

What Makes Cashwise Stand Out?

No transaction or funding fees – You won’t have to worry about hidden charges when using the card.

Best exchange rate in the market – More value for your money on USD conversions.

Long validity (5 years) – A rare feature among virtual cards.

Seamless international transactions – Works smoothly on major platforms.

Additional bill payment features – Pay utility bills in both Nigeria and the US from one app.

Straightforward setup process – No complicated requirements.

What to Keep in Mind

Limited to USD transactions – You can’t use the card for non-dollar payments.

$3 setup fee required – While affordable, it’s not the cheapest on the market.

Cashwise is the ideal option if you want a stress-free virtual dollar card with a straightforward fee structure and long-term usability.

5. Cardtonic Virtual Dollar Card

Card Creation Fee: $1.5

Funding Fee: 2% of the Naira value per transaction

Top-Up Fee: 1.5% of the Naira deposit (capped at ₦2,000)

Cross-Border Transactions: 2.2% + $0.5 per transaction (for non-USD payments)

Withdrawal Fee: $2 (if withdrawing funds from the card)

If you’re looking for the cheapest virtual dollar card in Nigeria, Cardtonic Virtual Dollar Card takes the crown. With an ultra-low $1.5 card creation fee and no maintenance charges, Cardtonic provides a cost-effective way to make seamless international payments.

Key Features

Low-Cost Card Creation

• At just $1.5, Cardtonic offers one of the most affordable virtual dollar cards in Nigeria.

No Dollar Account Needed

• Unlike traditional USD cards that require a separate dollar account, Cardtonic lets you fund your card using your Naira balance.

Supports Visa & Mastercard Payments

• Cardtonic’s virtual dollar card is powered by both Visa and Mastercard, ensuring global acceptance across multiple platforms.

Competitive Conversion Fees

• Cardtonic offers some of the best exchange rates in the market, saving you money on currency conversion.

Versatile Usage

• From shopping online to subscribing to streaming services, booking hotels, or paying for digital ads, Cardtonic allows borderless transactions without restrictions.

Bill Payment Integration

• With Cardtonic 3.0, you can also pay for utilities like electricity, cable TV, internet, and mobile bills from the same platform.

What Makes Cardtonic Stand Out?

Cheapest virtual dollar card – Only $1.5 to create

No maintenance fees – Save money in the long run

Naira funding – No need for a separate USD account

Additional bill payment features – Pay utility bills from one app

Available for Nigerians – Specifically designed for users in Nigeria

What to Keep in Mind

2% funding fee applies – Unlike Cashwise, Cardtonic charges a small percentage when you load your card.

Cross-border transactions attract extra fees – If you use the card for non-USD payments, there’s a 2.2% charge + $0.5 per transaction.

Ultimately, you should choose the best virtual dollar card according to your spending habits and transaction necessities.