Virtual monobank will keep the possibility of card-not-present transactions in only three countries in Africa: South Africa, Egypt and Morocco, the bank’s co-founder Oleg Gorokhovsky said.
“Due to the increased risk of fraud and to strengthen the fight against illegal gambling traffic, we are closing all card-not-present transactions in Africa, with the exception of South Africa, Egypt and Morocco,” he wrote in Telegram on Friday.
According to monobank on its website, it currently serves 7.439 million customers.
