Chipper Cash, an African fintech specializing in cross-border payments and dollar card services, has recommenced operations and is now declared "fully operational" in the United States after a two-month suspension.
During this holidays, the company focused on transitioning to a new banking partner in the US and enhancing its service offerings, said the company. With operations back in full swing, customers in the US can now seamlessly transfer funds to Chipper Cash's African markets, including Nigeria, Rwanda, Uganda and Ghana.
The fintech company disabled people in the United States from sending money to African countries after telling them that they couldn't do it anymore because their bank partnership ended partnership. Besides stopping and starting again, Chipper Cash got rid of all its jobs in the United States and the United Kingdom to have more workers in Africa.
In March 2024, Chipper Cash said they would move some of the jobs from the US and UK to places like South Africa, Ghana, and Nigeria. About 20 people would be affected. Chipper Cash had laid off workers in December 2023, which was the fourth time in a year. They also laid off workers in December 2022 after getting $150 million from FTX, a company that doesn't exist anymore.
Chipper Cash recently upgraded its platform, introducing individual bank account details to improve transaction experiences, particularly for sending money from the US to Africa. To benefit from this, you needs to update your Chipper Cash App and verify your account, with support available for any difficulties you may encounter during the transition.
Since launching in the US in December 2022, Chipper Cash has secured money transmitter Licences in 80% of states through its Licensing program, with banking partnerships supporting operations in the rest.
Now, with its expanded Licensing program, Chipper Cash has acquired money transmitter Licences for 40 states, bringing its total global Licensing Portfolio to 55, including 15 across Africa. It aims to obtain all 53 US money transmitter Licences by 2024.
