What is Chipper Cash
You must have heard about the fintech start-up Chipper Cash if you're from Uganda. FILE PHOTO

You can send and receive money from friends and family for free using Chipper cash. Sending money is as simple as pressing a few buttons.

In recent months, speculation has been swirling around a fintech start-up called Chipper Cash, so if you’re from Uganda, you must have heard about it already.

The makers of Chipper specialise in making it easier to send money from one country to another. While some have questioned the startup’s validity, key investors have backed it up as a financially sound venture.

With only a few button presses, the Chipper cash lets you send and receive money from friends and family for free.

Chipper Cash Journey

In 2017, two people, Ham Serunjogi and Maijid Moujaled of Ghana came up with the idea for Chipper Cash. Majid worked as a software engineer at Yahoo while Ham was a business strategist at Facebook.

They were both driven by a desire to improve the daily lives of Africans by making financial transactions easier and more convenient. 

From a tiny team in Dublin and San Francisco to teams in Nairobi, where the African headquarters are located, Chipper has grown into a global company.

Over 70,000 people in five African countries are currently using Chipper, half of whom are in Uganda. This is due to the large number of young people in Uganda who are eager to adopt new technology.

How does Chipper work in Uganda?

In most African countries, there have always been problems with sending and receiving money. System delays and difficulties are common when exchanging money across countries. 

Chipper, on the other hand, made it easy for Africans to send and receive money. In a matter of minutes, you’ll be done with this step. Please read the following instructions.

chipper cash app download
Chipper can be found on Google Play (for Android users).

Chipper Cash registration

  1. First, get the app. Chipper Cash download
  2. Chipper is available on the Google Play Store (Android users). To get it on your phone, go to the App Store and search for “download”
  3. Open the app.
  4. Sign up with an email address or phone number.
  5. Register with a mobile phone number to confirm your identity. Alternatively, your e-mail account can be used.
  6. Confirm your account.
  7. Your phone or email will receive a verification code (often six digits long) to complete the transaction. The next step is to verify it.
  8. Enter your personal information here. Include your name and any relevant details in this section.
  9. Set up a user name and password for payments.
  10. Create a unique username that you may use to send and receive Chipper Cash payments.
  11. Choose a currency.
  12. Choose the currency of the country where you are currently living. All transactions will be made in this currency.
  13. 7. Come up with a unique personal identification number (PIN).
  14. Set a security code for transactions. Make it one-of-a-kind and safe. Be patient as your account gets initialised for a few seconds.

Chipper Cash is available in which country?

  • Nigeria.
  • The United Kingdom.
  • Tanzania.
  • South Africa.
  • Uganda.
  • Rwanda.
  • Ghana.
  • Kenya.

Many people have been making use of Chipper Cash for quite some time now. Several of its customers have given it a high rating. 

That’s presumably why there are 3 million users, 10,000 new users per day, and roughly 80,000 transactions per day on Chipper.

At the moment, Chipper Cash has a partnership with the Roma soccer team. 

Other trustworthy businesses, many of which you already know about, are also promoting Chipper. As well as The Economist and even the well-known Apple corporation.

You can trust Chipper Cash. In San Francisco, California, the United States is where they have their main offices. This site has registered 17 investors and 18 employees.

How to send money using Chipper Cash

When compared to other African bank apps and e-wallets, Chipper Cash makes sending money a breeze.

When using Chipper, here are some things to keep in mind:

  • With Chipper Cash, you can transfer money to people in your phone directory.
  • You can invite your recipient to sign up for Chipper Cash if they aren’t already a user. A text message will be sent as a result of using the app. You’ll get your money back if the recipient doesn’t sign up and claim it.
Chipper cash lets you send and receive money
The Chipper cash enables free money transfers to and from friends and family with just a few clicks of a button. FILE PHOTO

How do I receive money from Chipper Cash?

This is a straightforward process. 

  • To go to your page click directly where you see Profile
  • To cash out, simply click Cash Out under the payment options menu. Once you’ve entered the appropriate information, the funds will be transferred to your nominated bank account.
  • If you have not yet entered your bank account information, you can access your profile.
  • When you get to “Payment methods,” you can enter your bank account information.

Chipper Cash Investment

For the average Ugandan, Chipper provides access to the U.S. stock market through a relationship with DriveWealth LLC, a pioneer in fractional investment and embedded finance.

As of today, Ugandans of all economic backgrounds will be able to invest in the world’s largest publicly traded firms listed on the New York Stock Exchange — when we talk about unlocking global potential, this is what we mean.

For a long time, investing in U.S. equities required a large minimum investment and was exclusively available to the well-off. First-time investors were effectively priced out of this market.

It’s possible to invest in over 6,000 US equities and ETFs on a dollar equivalent basis using Chipper Cash, with little or no minimum investment — anyone may invest with as little as $1. 

Chipper Cash uses which bank?

Chipper accepts mobile money payments from Airtel, MTN, and AFRICELL in Uganda. It allows users to send and receive money for free across all of these mobile money networks.

How does Chipper Cash make money?

The company owns and runs Chipper Checkout. These are payment options that can be used by merchants who charge a service fee for their customers to utilise them. 

These services are provided for free thanks to the money that Chipper Cash generates through this method of making a profit.

Bottom line

Chipper is pioneering the use of technology to promote financial inclusion in Uganda and the rest of Africa with its comprehensive value proposition of local and international transfers, crypto offers, airtime, data, and bill payments. 

A user-friendly and reasonably priced investment product is now available.