Miden is a debit card issuance platform that provides businesses in Africa with the infrastructure to create and manage payment programs, including virtual corporate cards and sub-accounts for expense management. The platform enhances financial visibility and control while ensuring compliance with regulatory standards and maintaining high security through dedicated fraud prevention systems.
Funding
$500K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses in Africa face challenges in managing and controlling expenses due to limited access to modern payment infrastructure. Traditional methods lack real-time visibility, making it difficult to track spending and ensure compliance with financial regulations. This can lead to inefficiencies, increased costs, and potential fraud.
Solution
Miden provides a modern issuer processor and banking stack platform that enables businesses in Africa to create and manage their own payment programs. The platform offers tools to issue virtual corporate cards, manage sub-accounts, and automate expense workflows, providing real-time visibility and control over organizational spending. Miden's solution helps businesses streamline payment processes, reduce costs, and improve financial governance. The platform also ensures compliance with regulatory standards and maintains high security through dedicated fraud prevention systems.
Target Audience
Miden primarily targets businesses, enterprises, and financial institutions in Sub-Saharan Africa seeking to modernize their payment infrastructure and gain greater control over their payment cycles.
Features
- Virtual corporate cards for teams to facilitate smooth expense payments
- Sub-accounts for managing different teams and departments within an organization
- Workflow management for requests and approvals in one centralized location
- Automated invoice processing and vendor payment reconciliation
- Virtual accounts and automated collections
- PCI-DSS compliance for bank-grade security standards
- Strict compliance procedures to ensure legitimate businesses and transactions
- Dedicated fraud and compliance systems that operate round the clock
- Contactless payment via Google Pay and Apple Pay
- APIs for launching virtual USD cards