Chipper Cash, a financial services company serving over five million customers across Africa and the US, has announced the expansion of its partnership with VISA.
According to recent a press release by the company, the arrangement will see the two firms continuing to collaborate on card issuance while also joining forces across regulatory and functional areas such as VISA licensing and marketing to leverage both Chipper’s expertise and VISA’s capabilities.
MILESTONE I 2023
Chipper Cash has issued over one million Chipper Cards.
Chipper Cash is also the largest provider of virtual cards in Africa.@chippercashapp @VisaNews pic.twitter.com/MH7UVXaNIN
— BitKE (@BitcoinKE) November 13, 2023
The fintech, which was one of the few tech unicorns in Africa prior to the collapse of FTX, has an established partnership with VISA, having worked with the company since 2021 to bring its popular Chipper Card to market, where Chipper customers use the VISA network to make payments globally.
Having recently issued one million cards and become the largest provider of virtual cards in Africa, this expanded deal will see Chipper harness VISA’s vast experience and investment across more areas of its business.
“Bringing trusted and reliable products to market at pace – such as the Chipper Card – are not just business wins, they’re enablers for growth and opportunity. 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 program but to do even more to drive financial inclusivity to millions.”
– Tefiro Serunjogi, Head of Consumer Products, Chipper Cash
The company sees this latest move as another step in meeting its mission to provide the most trusted and reliable financial services to people living in Africa and beyond. It also comes just two months after Chipper announced the launch of Chipper ID, the AI-driven verification and onboarding tool built specifically for the African continent.
“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,” said Brett Macgrath, Chief Product Officer, Chipper Cash.
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