Western Union has partnered with Chipper Cash and its Zambian subsidiary Zoona Transactions to offer international money transfer services through the Chipper Cash app.
The co-branded service will allow customers in Zambia to send and receive funds to over 200 countries globally.
Trading on Western Union's 175 years’ experience in cross-border, cross-currency money transfers, the deal will also draw on Chipper Cash's and Zoona's local digital penetration in Zambia.
Chipper Cash is a cross-border payments fintech that also offers personal investment and digital business transactions, which was founded in 2018 by two Ghanaians, who were studying in the US. In 2022, Chipper Cash acquired, Zoona, a Zambian enterprise payments platform. Combined, the two brands service five million customers across the African continent.
The new product offering will enable users to send funds to mobile wallets worldwide, as well as for cash collection pick-up at over 500 000 agent locations globally. The companies plan to launch payout to bank accounts imminently.
According to Africa-focused venture capital firm, Oui Capital, Africa’s cross-border payment market is set to grow from $329 billion this year to $1 trillion by 2035.
“Zambia’s digitally savvy population of over 20 million is driving a remarkable shift toward mobile-first financial solutions,” said Mohamed Touhami el Ouazzani, Western Union’s regional VP, Africa.
“At Zoona, we’ve witnessed firsthand the incredible evolution of Zambia’s financial landscape — from the early days of cash-based transactions and agent networks to a thriving ecosystem of mobile and digital payments,” said Brett Magrath, CEO, Zoona and CPO, Chipper Cash.
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