Chipper Cash, Visa Strengthen Partnership Amid Card Funding Glitches
Amidst card funding glitches experienced by its customers, Chipper Cash, a financial services company has announced a strategic partnership with Visa to drive growth and financial inclusion across the African continent.
Its US Dollar virtual card has suffered setbacks in recent times as customers have been unable to fund the Visa card for transactions. On the other way round, Chipper Cash charges N500 for US transactions that fail.
In a statement, Chipper Cash said it 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.
The company said having recently issued one million cards and become the largest provider of virtual cards in Africa, this expanded deal will see the fintech company harness Visa’s vast experience and investment across more areas of its business.
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.
Commenting, Brett Macgrath, Chief Product Officer, Chipper Cash said: “We are proud to have a strong relationship with Visa and are excited to strengthen these ties even further. 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.”
“We are thrilled to announce our expanded collaboration with Chipper Cash. This deepens our support in the growing demand for digital financial services in Africa and driving meaningful impact across the continent,” said Meagan Rabe, Senior Director of Fintechs for Visa Sub-Saharan Africa. “We look forward to continuing our work with Chipper Cash to redefine and expand the boundaries of financial accessibility and convenience.”
Tefiro Serunjogi, Head of Consumer Products, Chipper Cash added: “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.”
The announcement of the strategic partnership with Visa represents another step in Chipper 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.
