Chipper Cash, the fintech firm, has announced a multi-million-pound expansion of its partnership with Visa, one of the world's leading payment technology companies.
The extended agreement seeks to bolster growth and foster financial inclusion across the African continent, providing Chipper Cash with access to Visa's vast expertise and investment, particularly in areas like research and development.
Read also:Â The Bank of Ghana authorizes Chipper Cash to facilitate transfers to the U.S.
Million Chipper Cards Issued
This significant announcement coincides with Chipper Cash's revelation that it has successfully issued over one million Chipper Cards. This accomplishment solidifies Chipper Cash's position as the largest provider of virtual cards in Africa. The company has served more than five million customers across Africa and the United States.
Chipper-Visa Collaboration Since 2021
Chipper Cash commenced its collaboration with Visa back in 2021 by launching the Chipper Card, a product that allows customers to make global payments on the Visa network. The success of this initial partnership has led to the expanded agreement.
With the extension of their collaboration, Chipper Cash will gain even more substantial access to Visa's extensive resources and experience, which will contribute to further improving its business operations.
Extending the Partnership
Chipper Cash and Visa will continue to collaborate closely on card issuance and extend their partnership to encompass various functional and regulatory areas. These areas include Visa licensing and marketing, allowing the companies to leverage each other's unique expertise. The expanded partnership is expected to drive significant developments in their financial services.
Building on Strong Ties
Brett Macgrath, Chief Product Officer at Chipper Cash, expressed the company's pride in its relationship with Visa and its excitement about strengthening this partnership. He emphasized that today's announcement will enable Chipper Cash to achieve its priorities more rapidly by harnessing Visa's global reach to deliver top-quality products and services to customers.
Meagan Rabe, Senior Director of Fintechs for Visa Sub-Saharan Africa, shared her enthusiasm for the expanded collaboration. She acknowledged the growing demand for digital financial services in Africa and highlighted the potential for meaningful impact across the continent. Rabe also expressed Visa's anticipation of continuing to work with Chipper Cash to redefine and expand the boundaries of financial accessibility and convenience.
Tefiro Serunjogi, Head of Consumer Products at Chipper Cash, emphasized the substantial role that the Chipper Card plays in promoting financial accessibility. He mentioned that data indicates 21% of customers' first experience with payment cards was through obtaining a Chipper Card. Serunjogi noted that offering trusted and reliable products like the Chipper Card accelerates business growth and enhances opportunities.
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Aligning with Chipper's Mission
This announcement of an enhanced partnership with Visa aligns with Chipper Cash's mission to provide the most trusted and reliable financial services to people in Africa and beyond. It follows the recent launch of Chipper ID, an AI-powered verification tool designed explicitly for the African continent. The expansion of the partnership with Visa is a testament to Chipper Cash's commitment to advancing financial inclusion and digital financial services across the region.
Chipper Cash's strengthened partnership with Visa is poised to accelerate the delivery of high-quality financial products and services to an even broader customer base across Africa. The collaboration builds upon the success of the Chipper Card and aligns with the company's mission to promote financial inclusion and accessibility. Chipper Cash and Visa are set to redefine financial accessibility and drive the expansion of digital financial services across the African continent.
