Payments company Chipper Cash has introduced a USD account for its customers, allowing its African clients to get paid easily. It is live in Nigeria, but will soon expand to other markets. With the account, customers can access a USD account number and receive money in USD directly to their accounts. They will also be able to fund their Chipper card for other services such as shopping, paying for streaming services, or doing purchases online.
“The introduction of our newest product – the Chipper USD account – a US dollar-denominated account for people living in Africa, is important. We firmly believe easy access to trusted and reliable financial services can serve as a catalyst for economic development, global trade and financial inclusion on the continent,” said Chipper in a statement.
Those interested in this can open an account instantly.
Per Chipper, this move seeks to empower people who get paid online, especially in the era of digital creation and e-commerce.
“With just under 50% of creators using new platforms and technologies to monetize their content and reach a wider audience, access to financial services that make receiving funds as smooth as possible counts.
“With the Chipper USD account, creators, freelancers and remote workers can receive dollars directly into their own account, allowing this growing cohort to engage in global commerce more efficiently. It also simplifies transactions with international partners, payers and funders by reducing exposure to exchange rate fluctuations,” said Abi Animashaun, Country Director and Head of Product, Nigeria.
The development will be very key to Chipper’s customers, especially groups that have been struggling to open a USD account. There are such kinds of customers in countries such as Kenya, but Chipper is not licensed there as a payments company, and so does its big rival, Flutterwave.
Chipper is active in Nigeria, Ghana, Rwanda, Uganda, and the USA.