In a significant move aimed at advancing financial inclusion across the African continent, Chipper Cash, the prominent financial services company serving over five million customers in Africa and the US, has announced a strategic partnership with global payment giant Visa.
This collaboration marks a significant expansion of Chipper Cash’s existing partnership with Visa, which dates back to 2021 when the two companies collaborated to introduce the widely acclaimed Chipper Card to the market. With one million cards issued and Chipper Cash becoming the largest provider of virtual cards in Africa, this enhanced partnership seeks to leverage Visa’s extensive experience and investment to propel Chipper Cash’s growth in various areas of its business.
The agreement solidifies continued collaboration on card issuance, with both entities extending their partnership into regulatory and functional domains, encompassing Visa licensing and marketing. By pooling resources, Chipper Cash and Visa aim to capitalize on Chipper’s expertise and Visa’s global capabilities to drive financial accessibility and innovation.
Brett Macgrath, Chief Product Officer at Chipper Cash, expressed enthusiasm about the strengthened ties with Visa, stating, “Today’s announcement means we can deliver on our priorities at a faster pace than we could do alone; harnessing Visa’s global reach to enable us to continue to bring the very best products and services to customers.”
Meagan Rabe, Senior Director of Fintechs for Visa Sub-Saharan Africa, echoed the sentiment, saying, “We are thrilled to announce our expanded collaboration with Chipper Cash. This deepens our support in the growing demand for digital financial services in Africa and driving meaningful impact across the continent.”
Tefiro Serunjogi, Head of Consumer Products at Chipper Cash, highlighted the transformative impact of their products on financial inclusivity, stating, “Our data shows that for 21% of customers, getting a Chipper Card is their first time accessing a payment card.”
This strategic partnership aligns with Chipper Cash’s mission to provide trusted and reliable financial services to individuals in Africa and beyond. It follows closely on the heels of the recent launch of Chipper ID, an AI-driven verification and onboarding tool designed specifically for the African continent.
As Chipper Cash continues to innovate and expand its suite of financial solutions, the collaboration with Visa represents a crucial step towards achieving their goal of making financial services accessible to millions across Africa.