Africa is revolutionizing cross-border payments, TBD, a digital payment platform backed by tech entrepreneur Jack Dorsey, has partnered with Chipper Cash, one of the continent’s largest financial technology firms. This strategic collaboration, announced on May 14th 2024, aims to expand TBD’s network to 40 African countries, significantly boosting financial access and reducing transaction costs.
TBD, established just over two years ago by Block—formerly known as Square and co-founded by Jack Dorsey, the founder of Twitter—seeks to leverage its innovative technologies to connect individuals, businesses, and payment platforms globally. The partnership with Chipper Cash, which already serves 5 million customers across 21 African countries, marks a significant step towards enhancing financial inclusion across the continent.
Mike Brock, CEO of TBD, emphasized the potential of the partnership during an interview in Accra, Ghana’s capital. “Our collaboration with Chipper Cash enables us to offer our advanced technologies to a broader network, facilitating quicker and more cost-effective transactions.”
San Francisco-based Chipper Cash views the partnership as a pivotal step towards addressing the Africas banking infrastructure challenges. Maijid Moujaled, president and co-founder of Chipper Cash, highlighted the importance of remittances for many African families. “One of our main goals on the continent is to encourage engagement in that ecosystem—developers, fintechs, startups, banks, and institutions can use these technologies today.”
The partnership between TBD and Chipper Cash marks a significant step towards enhancing financial access and inclusion in Africa, offering a promising solution to the high costs and inefficiencies associated with traditional remittance channels. By leveraging TBD’s support from Block Inc., formerly known as Square, the collaboration aims to revolutionize cross-border payments in Africa, fostering a more inclusive and interconnected financial landscape.
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