Chipper Cash is a San Francisco-based fintech company founded in 2018 by Ham Serunjogi of Uganda and Maijid Moujaled of Ghana. The company is committed to providing cross-border payment services without fees for users in Africa and around the world, and promoting financial inclusion.
Company
- OverviewFounded: 2018Headquarters
- : San Francisco, California ,
- USAFounder: Ham Serunjogi (Uganda), Maijid Moujaled (Ghana)
- Legal Entity: Critical Ideas, Inc. (USA).
- Service area: Nigeria, Ghana, Uganda, South Africa, Rwanda, Kenya, the United States, the United Kingdom, etc
Chipper Cash provides free, instant, peer-to-peer (P2P) cross-border transfers to multiple countries across Africa. Users can also deposit and withdraw cash through MoneyGram agent outlets, which enhances the convenience of cash flow. chippercash.com
platform issues virtual Visa cards that allow users to make international online payments, such as subscription services, shopping, and more. To date, more than 1 million virtual cards have been issued.
Chipper Cash provides a stock investment function that allows users to invest in U.S. listed company stocks in U.S. dollars, broadening the investment channels of African users.
Chipper for Business provides businesses with services such as cross-border payments, bulk payments, and API integrations, as well as multi-currency settlements to meet their payment needs in the African market.
Compliance &
RegulationChipper Cash places a high value on compliance and has obtained money transfer licenses in 40 states in the United States, ensuring its legal operations in the U.S. market. In addition, the company has been granted a broker-dealer license by the Securities and Exchange Commission in Ghana, expanding its capabilities in the investment sector. However, in 2022, the Central Bank of Kenya pointed out that Chipper Cash was not licensed by the country's payment service provider, requiring it to cease its business operations there.
Market Positioning & StrategyWith
the mission of "Enabling the Free Flow of Money", Chipper Cash focuses on providing convenient and low-cost financial services to users in Africa and around the world. Through partnerships with organizations such as MoneyGram and Stellar, the company continues to expand its network and enhance the user experience. At the same time, Chipper Cash is also committed to providing customized payment solutions for corporate customers to meet their diverse needs in the African market.
Neutral
EvaluationChipper Cash As a fast-growing fintech company, Chipper Cash has successfully attracted a large number of users and promoted financial inclusion in the African region with its innovative products and services. Its compliance efforts also reflect the importance it attaches to the safety of users' funds. However, in the face of the regulatory environment in different countries, companies need to continue to strengthen compliance management to ensure the sustainable development of their business.
For more information, visit the official Chipper Cash website: https://www.chippercash.com/
