Chimoney 2024 End of Year Newsletter
As 2024 draws to a close, we’re taking a moment to celebrate the milestones we’ve achieved this year—together with you. From expanding our global reach to launching innovative products and deepening community impact, it has been a remarkable journey.
Thanks to your trust and support, we’ve made significant progress across compliance, growth, innovation, and partnerships, enabling us to connect people and businesses across 130+ countries with reliable payment solutions.
Here’s how we’ve grown and made a difference in 2024:
Highlights of the Year
Global Payout Coverage Expansion
In January, we partnered with Corpay, to expand our payout coverage from 30 to over 130 countries, in all 7 continents in the world enabling faster, more reliable cross-border transactions for our clients.
Faster Payments in Canada
We implemented direct integration with Interac, Canada’s Real time inter-bank payment system, unlocking a new opportunity for Chimoney to offer collection and disbursement capabilities for Canadian banks via the Chimoney API and the Chimoney Web App.
Secure Transfers and Web Monetization via Open Payments
We partnered with Interledger to integrate the Interledger Protocol (ILP), enabling us to process secure P2P transfers via Open Payment Networks. As we close out the year, we're wrapping up with the integration of the Interledger Web Monetization Plugin, enabling Chimoney users to interact and make payments on Interledger enabled web pages, further expanding Chimoney's use cases.
Launching the Chimoney App for Canadians
In October, we launched the Chimoney App, “Cash App for Canada,” at the Interledger Summit in Cape Town, South Africa.
The Chimoney App exemplifies the versatility and power of Chimoney's API, seamlessly integrating advanced financial capabilities into a single, user-friendly platform. With features like multi-currency wallets (CAD, USD, NGN), global transfers via email and phone numbers (with cash-out options in over 130 countries), direct deposits to banks in the United States, Canada, and Nigeria, and support for Interledger-enabled payments, the app places unparalleled financial freedom and accessibility at the fingertips of Canadians. Designed for simplicity and global reach, the Chimoney App empowers users to participate effortlessly in a borderless financial ecosystem.
Compliance and Regulation
We renewed our MSB registration in Canada through 2026, expanded compliance coverage, and achieved registration with the Bank of Canada under the Retail Payment Activities Act (RPAA) as a Payment Service Provider (PSP).
Product Updates
Advanced Multi-currency Wallets
This year, we expanded our product ecosystem with Multi-Currency Wallets offering USD, CAD and NGN and the Chimoney Payment Widget providing businesses and developers with a fully integrated, multi-currency payment gateway, seamlessly embedding into any web application.
Improved Developer Onboarding
We revamped our API documentation and developer resources, reducing developer onboarding time by 30%. By introducing written and video API integration guides, we reduced API integration time by 10%.
Event Highlights
Interledger Summit
The Chimoney team was at the Interledger Summit in Cape Town, where we launched the Chimoney App and engaged with key stakeholders. During the Innovation Exhibition, we demonstrated our ILP integration, reinforcing our commitment to open payments and global financial inclusion.
Developer Events
We hosted 7 key developer-focused events, including Exploring Open Payments in collaboration with Interledger, How to Integrate Chimoney API for Global Payouts Workshop, and Building Sustainable Open Source Contributions Workshop. We also sponsored TechIgnite by GDSC University of Uyo. Collectively, these events allowed us to engage with 400+ developers, building innovation and collaboration within the Chimoney community.
Community Highlight
Hacktoberfest Success
This year, we partnered with WriteTech Hub, OSCA Makurdi, GDSC University of Uyo, and ReactDevsKE and received 56 pull requests (47 approved) from 27 contributors across Nigeria, Kenya, India, and Bangladesh. Our repository grew with 189 forks and 146 stars, accompanied with great contributor feedback.
"It was amazing to work with and contribute to Chimoney, as a beginner in open source, I think this was a very good platform to start with and most importantly the rewards that came along were for sure a booster for all the contributors." - ~Adarsh
Start 2025 with Chimoney
Pre-book a demo meeting with us now to explore how Chimoney can meet your business needs and find the right payment solutions to grow your business in 2025.
Looking Ahead
As we move into 2025, Chimoney is primed for accelerated growth and innovation and we look forward to having you as an integral part of our journey.
Wishing you and your loved ones a joyful holiday season and a prosperous New Year! Here's to an even more impactful 2025!
Warm regards,
Phylis and the Chimoney Team
Connect With Us
Follow us on Twitter, LinkedIn, and Instagram for more updates. Have a Chimoney story to share? We’d love to hear from you—email us at marketing@chimoney.io or tag us @Chimoney_io!