Chipper, one of the fastest growing African FinTech start-up that facilitates free peer-to-peer (P2P) money transfers and instant cross-border payments in Africa, has officially launched Chipper Cash to offer domestic P2P money transfers in South Africa. Chipper Cash will enable South Africans to enjoy free unlimited instant domestic money transfers, invest in cryptocurrencies, buy and send airtime and data to loved ones.
Founded in 2018 by Ham Serunjogi, CEO and Maijid Moujaled, President, the company is headquartered in San Francisco, USA. As Chipper Cash is experiencing rapid user adoption, the FinTech has opened offices in multiple countries including Nigeria, Kenya, United Kingdom and South Africa. The Chipper Cash app was created to make money transfers easy and efficient for Africans at scale, to increase access to financial services for the underbanked and digitising daily payments to ease the reliance on cash. The app’s money transfer services are easy, secure and fast, which allows people to safely and freely move money domestically and across the continent. People can instantly purchase airtime and data from leading South African network providers to send to friends and family. In addition, Chipper Cash allows people to buy, sell and transfer Bitcoin, Ethereum and USD Coin all in one app.
“Domestic remittances are a lifeline for many families in South Africa. Over 157 billion rand (US$10.4 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,” said Pardon Mujakachi, Vice President: Strategy and Partnerships, Africa.
Mujakachi added that: “We are very excited for South Africa to experience Chipper Cash and take advantage of the app’s features such as fast and safe P2P money transfers, buying discounted airtime and data, and investing in selected cryptocurrencies. Soon, we will be introducing additional features such as cross-border transfers across countries within our network. People living in South Africa will be able to send money easily and safely to their families and friends in other African countries. We believe that Chipper Cash will help formalise local and regional remittances that tend to be sent through informal channels, which can be expensive, unsafe and unreliable. Such a meaningful difference is true to the goals and vision of Chipper Cash’s founders.”
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