Cardtonic, a Lagos-based financial technology company, has continued to strengthen its presence in the West African fintech sector with operations in both Nigeria and Ghana.
Established in 2019 by Faturoti Kayode and Balogun Usman, the platform has developed into a multi-service hub for digital financial transactions, offering solutions across international payments, digital asset trading, gadget purchases, and bill settlements.
The company plays a notable role in Nigeria and Ghana’s fintech ecosystem by addressing consumer challenges in making cross-border payments while also providing liquidity for digital assets such as gift cards. Its presence in both countries reflects the growing integration of West African fintech markets and the region’s push toward greater financial inclusion.
Cardtonic’s business model is built on four main services. At the forefront is its Virtual Dollar Card (VDC), a reloadable debit card denominated in United States dollars that enables users in Nigeria and Ghana to complete international online transactions—particularly in cases where local banking cards are restricted or ineffective for global spending.
The company’s second flagship offering is gift card trading, which allows customers to buy and sell a variety of international gift cards in exchange for local currencies such as the Nigerian naira and Ghanaian cedi. This function has positioned the platform as a bridge between international digital assets and regional financial systems.
Complementing these are Just Gadgets, a marketplace for smartphones, laptops, and other consumer electronics, as well as bill payment services that allow users to settle airtime, mobile data, utilities, and cable television subscriptions directly through the Cardtonic application. Together, these add-ons expand the platform’s scope beyond core financial services, offering users a consolidated ecosystem for both lifestyle and payment needs.
Unlike many fintech startups in Africa that depend heavily on external venture capital, Cardtonic has remained self-funded since its inception. Company statements indicate that this approach has allowed it to grow sustainably while retaining full control over its strategic direction in Nigeria and Ghana.
By offering cross-border solutions that simplify access to international payments and digital transactions, Cardtonic contributes to regional financial inclusion, particularly for individuals who face restrictions under local banking policies. Its operations highlight how fintech platforms can bridge gaps in accessibility across West Africa.
Cardtonic’s evolution underscores the diversification of fintech services in Africa, where platforms are increasingly combining multiple consumer solutions under a single brand. Its mix of global payment access, digital asset liquidity, and everyday utility services positions it within the broader shift toward multifunctional financial applications in the subregion.
As of 2025, Cardtonic continues to operate actively in both Nigeria and Ghana, with Lagos serving as its headquarters. The company’s founders maintain that their focus remains on building sustainable, consumer-focused fintech solutions, while industry observers recognise its ongoing role in shaping West Africa’s financial technology landscape.