The Bank of Ghana has granted Chipper Cash an Enhanced Payment Service Provider License after the startup met the licensing application requirements for payment service providers.
Chipper Cash has so far raised over $250 million dollars from investors including Jeff Bezos’ Bezos Expeditions VC fund, Designs Capital, Ribbit Capital, One Way Ventures, 500 Startups, Tribe Capital and Brue2 Ventures making it Africa’s sixth unicorn.
Chipper Cash was founded by Ghanaian Maijid Moujaled and Ugandan Ham Serunjogi in 2018 to solve challenges involved with completing transactions from one African country to another such as high rates and regulatory hassles.
With the acquisition of the license, Chipper Cash will now have the ability to provide hardware and software for its services as well as to conduct inward International remittances services and print and personalize EMV cards.
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