–Based in San Francisco, Chipper Cash is a payment service and app
-The startup is currently in partnership with PayStack, a Nigeria-based payment solution service
-Chipper Cash will offer a P2P payment service and app, similar to that of Paystack
Founded in San Francisco in 2014, Chipper Cash has remained a zero-fee, cross-border payment service. Although still referred to as a startup, the payment solution has expanded beyond the host country, and now located in other regions, especially in the Africa continent.
The San Francisco based startup had initially launched in Ghana and Kenya, until now that it is reportedly setting its foot in Africa’s most populous nation- Nigeria via a partnership with PayStack— the payment gateway company based in Nigeria. In line with the new development, Paystack CEO Shola Akinlade also confirmed the collaboration.
According to our reliable source, Chipper Cas will establish a presence in Lagos, the most commercialized city of Nigeria, and as part of its expansion plan, it has hired a country manager, Abiodun Animashaun, who also doubles as a current co-founder of Lagos-based ride-hail startup Gokada.
So far, Chipper Cash has more than 70,000 active users and has processed 250,000 active transitions on its no-fee, P2P, cross-border mobile-money payments product. While the company is not only limited to P2P mobile-money payment alone; it also runs a Checkout service as well.
Namely, Chipper Checkout, the merchant-focused, fee-based C2B mobile payments product supports a no-fee mobile money business. The service, however, will not be launching alongside Chipper Cash in Nigeria for a start, however, it will reportedly debut several months after.
According to the company’s co-founder, Ham Serunjog, the reason behind moving to Nigeria is an obvious one- in his words, he said that; “Nigeria is the largest economy and most populous country in Africa. Its fin-tech industry is one of the most advanced in Africa, up there with Kenya and South Africa,”
“I think for any company doing fintech across borders, that is looking to be successful in Africa, it’s imperative that you have a presence in Nigeria,” Ham added.
For Chipper Cash, locating in Nigeria is not just a strategic plan for expansion, but such moves also serve international ambitions.
Meanwhile, Chipper cash will now be competing with the likes of Flutterwave, Paystack, Paga, among other companies that offer payment solution in the country.