Chipper Cash has just announced an exciting new feature that will revolutionize the way its users manage their money. In a partnership with MoneyGram and the Stellar Development Foundation (SDF), Chipper Cash now allows customers to cash in and cash out in real-time using MoneyGram agents.
This integration is set to enhance the user experience significantly, making financial transactions smoother and more accessible.
Ham Serunjogi, the co-founder & CEO at Chipper Cash announced the development on his LinkedIn account: “Today we’re announcing an exciting partnership with MoneyGram International. Chipper Cash customers in Uganda can now seamlessly cash in & cash out in real time at all MoneyGram agent locations countrywide. This expansion is another step towards bridging the gap between people and first class financial services at scale. Special thanks to The Bank of Uganda for working closely with our teams on this, and providing the necessary approvals. We look forward to continuing our work with regulators and expanding this partnership to more countries in Africa.”
Tefiro Serunjogi, Head of Consumer Products at Chipper Cash, expressed his enthusiasm for this development: “At Chipper Cash, we are constantly seeking new ways to expand financial access and inclusion across Africa and beyond. By integrating with MoneyGram’s global network and Stellar, we are thrilled to offer our users even more seamless transactions.”
This integration leverages the strengths of both MoneyGram’s extensive retail network and the Stellar blockchain’s capabilities, allowing users to interact with their finances in ways previously thought impossible. With this enhancement, Chipper Cash users can now enjoy instant access to their funds through physical MoneyGram agents located worldwide.
The need for such innovations is evident, especially in regions like Sub-Saharan Africa, where high transaction costs and limited interoperability among mobile money providers have historically hindered financial inclusion.
According to industry insights, Sub-Saharan Africa has some of the highest transaction costs globally due to legacy systems that impose significant fees on users. The partnership aims to alleviate these burdens by providing a more streamlined process that allows users to transfer money across borders effortlessly.
Chipper Cash has already made strides in this direction by developing a platform that sits above traditional mobile money services. This allows users to pull funds from various mobile wallets and transfer them seamlessly across different networks. As the company continues to grow—reporting over five million registered users—this latest feature is poised to further enhance its appeal.
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