What is Chipper cash – Chipper Cash is a fintech company that provides a mobile payment platform for sending and receiving money across Africa. The company was founded in 2018 by Ham Serunjogi and Maijid Moujaled, and it is headquartered in San Francisco, California, with offices in Ghana, Kenya, Rwanda, Tanzania, Nigeria, Uganda, and South Africa.
The platform allows users to send and receive money across borders without the need for a bank account or physical cash.
It also provides other financial services such as bill payments, airtime purchases, and cryptocurrency trading.
Chipper Cash has gained popularity in Africa due to its ease of use, low transaction fees, and wide availability.
It has also attracted significant investment from notable venture capital firms such as Ribbit Capital, Bezos Expeditions, and 500 Startups.
How chipper cash works
It’s a mobile application that allows users to send and receive the money within African countries and between African countries and the United States.
Here’s how it works:
Download and sign up: Download the app from the Google Play Store or Apple App Store and sign up using your phone number/email address and BVN.
Verify your identity: After signing up, you will be asked to provide some personal information to verify your identity, including your name, date of birth, and government-issued ID.
Add money: Once your identity is verified, you can add money to your account using a debit card, credit card, or bank transfer.
Send money: To send money, select the recipient from your phone contacts or enter their phone number. You can then enter the amount you want to send and confirm the transaction.
Receive money: To receive money, the sender will need to send the money to your phone number. Once the transaction is complete, the money will be added to your Chipper Cash account.
Cash out: You can cash out your money from your Chipper Cash account by transferring it to your bank account or mobile money account.
Other features: Chipper Cash also offers other features such as bill payments, airtime top-ups, and cross-border transactions between African countries and the United States.
Chipper Cash provides a convenient and affordable way to send and receive the money within and between African countries.
Which bank does Chipper Cash use?
Chipper cash operates with a virtual bank account number connected to your Chipper wallet in collaboration with its Nigerian bank partner Wema Bank and Flutterwave.
How do you make money with Chipper Cash?
You will need to refer nonexisting users to the platform, and once they sign up and verify their details as well as meet other stated conditions.
To refer others and be eligible to earn a referral bonus:
Step 1: Go to the “Earn” tab in your app
Step 2: Share your referral link by tapping “Invite a Friend” to invite users who are not on Chipper
Step 3: Each person referred must create their account with their device and complete all requirements on the same device
Step 4: Both the “Referrer” and the “Invited User” must get their account verified by submitting their relevant ID documentation
Step 5: The invited user must send a minimum amount of GHS 0 / UGX 0 / ZAR 0 / NGN 0 / RWF 0 / GBP 1 / USD 25 to any other Chipper user.
Please Note: Accepting a Payment Invitation is not part of the Terms & Conditions
Step 6: Both the invited user and the person that made the referral will receive the bonus amounts in their Chipper wallet automatically 24 hours after all the above conditions have been met.
How to share or find your referral code/link
To get your referral link and share it:
Tap on your ‘Earn’ tab in the app
Tap on ‘Share Link – Earn Money
Select the channel you want to share the link through then select the contact you want to share the link with
To share your referral code -> tap ‘Copy‘ to copy the code or tap any contact to directly share your referral code
NOTE: Your referral code is the last 5 digits at the end of your referral link.
How to sign up for a Chipper cash account
To sign up for a Chipper account, you will need to download and install the Chipper app from Google and Apple stores, available for Android and IOS operating systems.
- Launch the app and proceed to sign up
- Enter your email address and valid phone number
- A verification code will be sent to your phone or email address
- Enter the OTP in the advised column
- Set up your unique username
- Choose your preferred currency and set your security code.
How do I deposit money into my account?
You can deposit money in several ways, however, open your app and sign in.
To deposit money or find your Chipper Cash account, click on the “Add Cash” button. A page will load and you will be required to add a card as a method of payment. Input your card details and complete the process.
Alternatively, you may have to copy your Chipper Cash account number by tapping on the profile icon at the top right end of the home page and transfer money into your Chipper wallet from any bank account using your copied Chipper account number.
How to withdraw cash from to your bank account
- Sign in to your Chipper account, then Click on your profile.
- Tap on “Cash Out“.
- Enter the amount you are looking to withdraw and the money will be sent to your bank account.
However, if you haven’t set your bank account details, go to your profile, Click on “Payment methods” and set up your bank details.
How to send money on Chipper Cash
- Log in to your account and tap the send button on the dashboard.
- Select the beneficiary from your contact list. Here you will also see the country of each user and the registered full name.
- You can search for other users who are not on your contact list by using their usernames.
- Enter the amount you wish to send and confirm your security code. The transaction will be processed.
Note: You can send money to Chipper Cash users in your phone book.
If your beneficiary is not on Chipper Cash yet, you can send them an invitation to register. The app will send an SMS. If the beneficiary doesn’t register with Chipper Cash and could not claim the money, you will be refunded.
Is my BVN safe with Chipper Cash?
Yes, your BVN is safe. At Chipper, security is taken seriously to ensure your account and your details are as safe and secure as possible. Your payment information and personal data are encrypted to protect you against unauthorized activities and provide a safe platform for sending and receiving cash.
Where is Chipper Cash headquarters?
Chipper Cash is located in San Francisco, California, United States.
When was the last funding round for Chipper Cash?
Chipper cash closed its last funding round on January 1, 2022.
Who owns Chipper cash?
Ham Serunjogi is the Co-Founder and CEO of Chipper cash launched in 2018.
Is Chipper Cash approved by the CBN?
Yes, it’s one of the Financial Technology startups approved by the Central Bank of Nigeria to provide financial services through the use of technology, given the CBN financial inclusion strategy.
Is Chipper Cash a Nigerian company?
No, it’s co-founded by Ugandan Ham Serunjogi and Ghanian Maijid Moujaled who both studied in the United States.
How much is Chipper Cash worth?
Chipper has raised $150 million at a $2 billion valuation in a series C extension round led by the cryptocurrency exchange in Nov 2021.
Does Chipper cash use BVN?
Yes, you will need to verify your account with your Bank Verification Number.
How does Chipper make money?
It earns revenue through foreign-exchange fees and crypto brokerage commissions. Chipper grew from roughly two million registered users in 2020 to more than five million by the end of 2021. One-third of its 350 employees are U.S.-based.
Does Chipper work in the US?
Can I take out a loan from Chipper cash?
Chipper cash does not offer loans or lend users money, please.
Can I use Chipper to buy bitcoin in Nigeria?
You can add your Chipper wallet to Binance as a payment method and send money to your friends or family in Kenya, South Africa, and Nigeria with Zero transaction fees.
On what is Chipper Cash, it’s a mobile payment platform that allows users to send and receive money across different African countries.
It was founded in 2018 by Ham Serunjogi and Maijid Moujaled, with a mission to provide affordable and accessible financial services to underserved communities in Africa.
The platform operates in seven African
countries, including Ghana, Uganda, Nigeria, Tanzania, Rwanda, Kenya, and South
Africa. Users can download the app on their smartphones and link it to their
bank accounts or mobile money wallets to make transactions.
Chipper Cash also offers other financial
services such as bill payments, airtime top-ups, and virtual card services.
It has gained popularity in Africa due to its ease of use, low transaction fees, and fast transaction speeds, making it an ideal payment option for individuals and businesses alike.