Chipper Cash, a leading African fintech startup, is strengthening its partnership with Visa, a global payments company, to collaborate on card issuance and product marketing. The two companies have worked together since 2021 on the launch of Chipper Card, a virtual card that supports consumer payments in Africa. The new partnership will extend this cooperation and allow Chipper Cash to benefit from Visa’s network, experience, and investment in the continent.
Chipper Cash, which has issued one million virtual cards, aims to grow its business across Africa and the US, where it serves over five million customers. The company also launched Chipper ID, an AI-based verification and onboarding tool for Africa, in August. Chipper Cash hopes that its strategic partnership with Visa will help it scale its card and verification services in the region.
The partnership comes amid a challenging period for Chipper Cash, which lost two of its major investors, FTX and Silicon Valley Bank, due to their collapse. The company also laid off at least ten staff members, including the vice president of marketing, the global chief operating officer, and the country director for Kenya, between November 2022 and June 2023. Chipper Cash is looking to overcome these difficulties and maintain its growth trajectory in a competitive and uncertain market.
1 Comments
That's actually a very good piece of information because it will give Africans the opportunity to access wide variety of items in different locations with this collaboration.
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