Chipper, an international fintech company has launched its operations in South Africa.
In a company release, Chipper spoke of the moving money being still slow and costly, with transactions taking up to 48 hours to get to their destination and costing up to 2% to send.
“We believe sending money shouldn’t be costly or take days to receive. That’s why we’re launching with the best way to send money peer to peer in South Africa. Using the Chipper app, we make it fast, free and easy to send money to your friends or family in South Africa.
All you need to do to get started is download our app and connect it to your local bank account, and then you can start sending money to other Chipper customers in South Africa free and instantly.”Chipper in its Press Release
The coming of Chipper is expected to streamline the fintech inclusivity in the South African population by making the process more seamless.
“The ability to send money to friends and family wherever they are in Africa should be as easy as pushing a button on your phone. However, as we all know, that’s not the case today. It’s still astronomically expensive to send money across borders on the continent. That’s why we’ll soon be making it easier for the more than 24.3m domestic remittance users and 7.7m inter-provincial migrants who send R157b each year home to their family and friends.
We believe that by providing the best and most affordable way to do this, we can help formalise what is currently done through informal channels, thus making it safer to send money across to and from South Africa.”Chipper in its Press Release