A payment infrastructure and API provider for global money movement, Chimoney, based in Canada and with staff in the Americas and Africa, is helping simplify how remote workers get paid.
This is coming with the rise of the gig economy, and the COVID-19 pandemic, which saw more employers shut down their physical offices and shifted to remote work. Ultimately, with this development, there are no geographical hindrances to how companies hire.
However, one of the bottlenecks of this arrangement is figuring out how to effectively pay remote workers what they deserve in the way they choose and in the way that best preserves the value of labour and the payment.
Uchi Uchibeke, the founder of Chimoney, is one of the employers who has had to figure out creative ways around paying his African-based contractors. He first noticed the problem when he had to disburse funds for a hackathon he’d organised.
After searching for payment platforms that could cover the payouts to countries and currencies for all active participants, regardless of where they lived, he couldn’t find a suitable option.
This frustration led to the creation of Chimoney, a platform that enables the seamless exchange of value for community members at Hackathons and events.
Today, Chimoney’s offering has expanded and is currently being used by companies like Andela, Google, and Microsoft to pay their contractors quickly through ChiPay, which connects multiple currencies, countries, payment networks and banks to enable a seamless exchange of value.
In a new development and to further strengthen the company’s resolve as a global payments solution provider, Chimoney recently partnered with Wire Fx, a SaaS platform empowering financial technology companies to build innovative payment experiences, as its US provider of payment and account services.
By providing connectivity to the US banking system, the WireFX platform will give Chimoney’s corporate clients the ability to seamlessly fund their Chimoney-enabled bulk payouts to community members, employees, contractors, and brand ambassadors across the globe.
This partnership aligns with Chimoney’s mission to unlock economic opportunities for everyone because WireFX combines the best of banking services and easy-to-integrate technology.
“We are pleased with the team at WireFX and are looking forward to collaborating with WireFX to issue FDIC-Insured For-Benefit-Of (FBO) Bank accounts to our Corporate clients, simplify the process of moving money globally, and increase trust between Chimoney and our clients,” said Uchi Uchibeke, Chimoney founder and CEO.
The WireFx team is also excited about all the possibilities the partnership will unlock. “We are really excited to be chosen as part of Chimoney’s innovative payments experience. We look forward to working with Chimoney and growing a successful long-standing partnership,” said Jeff Althaus, WireFX President & CEO.
Uchi is also hopeful about Chimoney’s future potential and said that Chimoney’s big dream is to become the Top Payout API service provider in the next five years, both in Africa and around the world.
“We’re always looking for new ways to improve our service and make it easier for our customers. We’re developing new products and partnerships and using technology like contactless payments and AI to improve our service. We’re also working to make our service more widely available and helping people who might have had trouble getting financial services,” Uchi said.
