The way money moves around the world is changing – fast. Powered in part by greater mobile device access and innovations in payment technology, digital cross-border trade is expected to grow 5% from 2018 to 2022. And one of the fastest-growing and most exciting relationships in this new economy is that of Africa’s to the US, which is home to over 2.1 million immigrants from sub-Saharan Africa and the origin of almost 30% of international remittances to the region.
But for all the advancement in technology and increased money flows between the regions, certain areas of the financial ecosystem, such as debit card use, have remained inaccessible to those who participate in this growing relationship.
That’s why we’re thrilled to today announce our partnership with Chipper Cash – a startup that provides a frictionless way to send and receive money cross-border – immediately offering financial inclusivity to millions. Using our card-issuance technology, US-based Chipper Cash customers can finally access their Chipper Cash digital wallets to make transactions in the US and abroad that require a card payment, such as ecommerce purchases.
As the world’s most modern card issuer processor and program manager, we see this as just the beginning. Now, any hyper-growth digital enterprise like Chipper Cash that has digital wallets enabled can harness Highnote’s prepaid card issuance capabilities to unlock greater value for their users.
This partnership highlights some of Highnote’s deep capabilities in card issuance available to our customers. These include not only a ledger that allows for seamless movement of funds between a user’s existing digital wallet and their card accounts, but also a highly scalable and flexible architecture digital enterprises can use to grow its card program at scale while reducing operational challenges and complexities that come with operating such programs today.
Through the power of our modern world-class payments infrastructure, innovative companies like Chipper Cash open the floodgates for people to participate in so much of the digital payments revolution from which they have previously been excluded. We couldn’t be more excited to partner with Chipper Cash in support of their mission to bring financial inclusivity to millions.
Highnote strives to provide the best value for our customers. To learn more about our offerings, get in touch now.