African fintech, Chipper has now launched its money transfer and cross-border payment services in South Africa. South Africans can now enjoy free unlimited instant domestic money transfers, invest in cryptocurrencies, and buy and send airtime and data to loved ones.
The South African launch brings its total African network to seven African countries, which include Ghana, Kenya, Rwanda, Tanzania, Uganda, and Nigeria.
In 2019, South Africa had around 11 million unbanked people. This left many people seeking alternative options for domestic remittances, which serves as a lifeline to the 24 million South Africans who send money to family and friends daily. More so, there are 7.7 million people who moved to other provinces for work, resulting in over R157 billion being moved across provinces annually.
With the introduction of Chippercash to that economy, people can instantly purchase airtime and data from leading South African network providers to send to friends and family.
Chipper Cash’s speed, very low cost, and user-friendliness challenge the high fees, complicated processes, and slow transfer times of traditional money transfer. Its interface is intuitive, simple and makes sending money to friends and family as simple and instant as sending a text.
What they said:
Speaking on the expansion, Chipper Vice President of Strategy and Partnerships in Africa, Pardon Mujakachi, noted that domestic remittances are a lifeline for many families in South Africa and Chipper’s mission is to make the process more seamless and cost-effective for them.
“Over R157 billion moves between provinces every year, with people sending money to their families and friends. This is not only the result of the 7.7 million people who moved to other provinces for work, but it is the overall 24 million South Africans who send money to each other daily. Chipper Cash’s free, fast and easy domestic P2P service is now available to them all. We believe it gives South Africans the freedom to instantly send money anywhere in the country from their mobile phones.”
Chipper was founded in 2018 by Ham Serunjogi (CEO) and Maijid Moujaled (President) after their brief time working at big names like Facebook, Flickr and Yahoo. The startup is headquartered in San Francisco, USA with offices in Nigeria, Kenya and the United Kingdom.