Chipper Cash, a cross-border payments app used by over five million people throughout Africa and its diaspora, today announced its partnership with Highnote, the world’s most modern card issuance platform, to soon launch a new card capability. This new service will empower US-based Chipper Cash customers to access their Chipper Cash digital wallets to make transactions in the US and abroad that require a card payment, such as e-commerce purchases.
Cross-border trade is anticipated to rise by 5% between 2018 and 2022, and digital money is moving at higher volumes and faster rates than before. With its simple, no-transfer-fee, cross-border payment technology, Chipper Cash was able to grow to meet the needs of its consumers across Africa, making it one of just seven technological unicorns on the continent. Currently, Chipper Cash is utilizing Highnote to satisfy that demand for its clients in the US, which is the destination of roughly 30% of all international remittances to sub-Saharan Africa and is home to over 2.1 million immigrants from that continent.
In September of last year, just one month before it reached its $2 billion value, Chipper Cash made its US debut. The Highnote card will be its first virtual card product offered in the US, despite Nigeria being one of the biggest markets in Africa for Chipper Cash.
“I moved to the US from Ghana for school,”
“My father back in Ghana could only send me cash through a system that was slow, frustrating, and expensive. This was the genesis of Chipper Cash: a dream to make cross-border remittances to Africa, the US, and the world easier and economical.”
Maijid Moujaled, Co-Founder of Chipper Cash.
“Building on this, we want to give our customers in the US the power to use the money they earn or have in their wallets to spend on things they need,”“This is why we are so excited to partner with the Highnote team. We believe we have found a partner that can future-proof with us. Highnote offers great capabilities and platform flexibility, which will enable us to expand the Chipper Cash offering and find new ways to bring accessible financial services to people living in Africa and beyond.”
Chipper Cash Cards Product Lead Tefiro Serunjogi.
Highnote is in a unique position to provide card capabilities catered to Chipper Cash customers as the most cutting-edge card-issuing platform in the world created specifically for cutting-edge digital firms. A ledger, for instance, will be part of the new card capabilities and enable frictionless money transfers between a user’s current Chipper Cash digital wallet and their card account. Additionally, Chipper Cash can expand its card program at scale while minimizing the operational difficulties and complexity associated with running such programs today because of Highnote’s highly scalable and adaptable design.
“This partnership highlights our belief that innovative companies like Chipper Cash, paired with modern world-class payments infrastructure, open the floodgates for people to participate in so much of the digital payments revolution from which they have previously been excluded. We couldn’t be more excited to partner with Chipper Cash in support of their mission to bring financial inclusivity to millions,”
John Macilwaine, Co-Founder and CEO of Highnote.