Fintech start-up Chipper Cash has entered into a strategic partnership with global payments provider Visa, in an effort to drive financial inclusion across the African continent.
In a statement, Chipper Cash says the partnership builds on an existing 2021 collaboration aimed at bringing Chippercards to market where its customers use the Visa network to make payments globally.
The new arrangement will see the firms continue to collaborate on card issuance, while also joining forces across regulatory and functional areas, according to the statement.
Brett Macgrath, chief product officer at Chipper Cash, says: “Today’s announcement means we can deliver on our priorities at a faster pace than we could do alone, harnessing Visa’s global reach.”
“This deepens our support in the growing demand for digital financial services in Africa and driving meaningful impact across the continent,” adds Meagan Rabe, senior director of fintech for Visa Sub-Saharan Africa.
“We look forward to continuing our work with Chipper Cash to redefine and expand the boundaries of financial accessibility and convenience.”
San Francisco-headquartered Chipper Cash was founded in 2018 by two African entrepreneurs: Ham Serunjogi, who serves as CEO, and Maijid Moujaled, who is president of the company.
Chipper Cash’s cross-border payments app is used by over five million people throughout Africa and the diaspora, having launched its services across Ghana, Kenya, Rwanda, Tanzania, Uganda, Nigeria and South Africa. Its services are also available in the UK and US.
Two months ago, the fintech start-up launched Chipper ID, an artificial intelligence-driven verification and onboarding tool built specifically for the African continent.
Tefiro Serunjogi, head of consumer products at Chipper Cash, comments: “Our data shows that for 21% of customers, getting a Chipper card is their first time accessing a payment card.
“We are ambitious in our pursuits, and the continued backing of a world-class partner such as Visa allows us to not only scale our card programme but to do even more to drive financial inclusivity to millions.”
[Caption] Chipper Cash’s Tefiro Serunjogi and Brett Macgrath.