Hello 👋
Over the next few days, we will be introducing updates to our Chipper USD card program.
The reason for these changes is that the costs we incur to facilitate card transactions for amounts less than $4 are a disproportionately high percentage of the overall costs required to operate and deliver the card product to our customers.
These are the changes we're making:
CARD TRANSACTIONS: Flat $1 fee on all card transactions of less than $4.
CARD TOP-UP MINIMUM AMOUNT: The Amount should be greater than the minimum funding amount of $5.
We recognize that these changes may require adjustments to how you use our service. Many of you have told us how much you value the ability to make smaller purchases, and we've worked very hard to support these transactions for as long as possible. However, the current operational cost implications make these transactions of $5 and below unsustainable for our card program.
We believe in transparency and want to be upfront about the reasons for this change. Therefore, we're sharing this update with you to provide clarity and context around the situation.
Thank you for choosing Chipper Cash 💜