the CEO says that users in Uganda, South Africa and Kenya will be the first to get access next year.Ĭhipper Cash has also been busy tapping into the world of social payments. The company will roll out the service to users in Ghana, South Africa and Kenya before the end of the year.įor outflow payment services - sending money from Africa to the U.S. to Nigeria and Uganda is currently live for users in those markets. With that said, Serunjogi says peer-to-peer money movement from the U.S. Platforms such as WorldRemit already allow specific African countries like South Africa to send money to the U.S., so Chipper Cash is not entirely the first to try to offer such a service. “More important to that is that we are now the first ones that I know honestly to be able to support Africa to the U.S. “Chipper Cash is offering remittances considerably cheaper than anyone else,” Serunjogi told TechCrunch over a call.

Though the margins for remittances are small, the market has grown exponentially for the better part of the past decade, except last year when total remittances stood at $42 billion, down from $48 billion in 2020, per the World Bank.Ĭonsidering how expensive it is to send money to sub-Saharan Africa (it is the most expensive region to send money globally), Chipper Cash’s play is to offer the “best prices” and also facilitate money movement from Africa to the U.S. is responsible for almost 30% of the international remittances to sub-Saharan Africa.

to Africa corridor with established players such as Wise, MoneyGram, Sendwave and Remitly the U.S. Last month, Chipper Cash, with over four million users, ventured into the already competitive U.S.

Fluid app peer exchange