Chipper Cash Faces Continued Suspension of US Remittance Service Amid Challenges ⛔ 🇺🇸

Chipper Cash Faces Continued Suspension of US Remittance Service Amid Challenges ⛔ 🇺🇸

#fintech
#consumer markets
#payments
#remittances
Despite entering the US market to facilitate affordable remittances for the African diaspora, Chipper Cash's international money transfer services from the United States remain suspended since January, impacting users. Challenges, including a valuation decrease and workforce reductions, have marked the fintech's late 2022 journey.

Pan-African fintech startup, Chipper Cash, entered the US market in December 2022 to offer a cost-effective means for the African diaspora to send money back home. However, the international money transfer services from the United States were paused in January due to a terminated bank partnership. Despite assuring users of a February resumption, Chipper Cash's services remain unavailable, impacting its near-nationwide coverage achieved within a year. The fintech faced challenges in late 2022, including a 37.5% valuation decrease and workforce reductions, contributing to the continued suspension of its US remittance service.


🚀💸 #ChipperCash #USRemittance #FintechChallenges #AfricanDiaspora #FinancialNews


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