Chipper Cash launches in South Africa with free P2P payments, crypto investments

Chipper Cash has launched in South Africa, bringing unlimited free domestic money transfers to locals, as well as a range of other financial features.

The app has previously been available for cross-border payments in several African countries.

On 22 September, the company announced its local launch following a closed beta in the country. This adds South Africa to its user base of other African countries including Ghana, Kenya, Rwanda, Tanzania, Uganda, and Nigeria.

“Domestic remittances are a lifeline for many families in South Africa. Over R157 billion moves between provinces every year, with people sending money to their families and friends. This is not only the result of the 7.7 million people who moved to other provinces for work, but it is the overall 24 million South Africans who send money to each other daily,” Pardon Mujakachi, Vice President of Strategy & Partnerships, Africa, said.

“Chipper Cash’s free, fast and easy domestic P2P service is now available to them all. We believe it gives South Africans the freedom to instantly send money anywhere in the country from their mobile phones.”

What are the features of Chipper Cash?

Chipper Cash includes free and instant domestic money transfers. But it also allows users to buy, sell, and transfer Bitcoin, Ethereum and USD Coin.

You can also buy discounted airtime and data.

At a later date, cross-border transfers will be introduced for South African users.

While domestic transfers are free, other transactions attract fees in the app.

Users need to verify their profiles in order to use Chipper Cash. This includes submitting an ID or valid passport.

You can download the app from the Google Play Store or App Store.

Read more: Avo by Nedbank launches digital vehicle mall