TechInAfrica – The SA-based crypto-currency exchange VALR has come up with a new crypto solution called VALR Pay, to bridge the ‘cost and friction of payments in South Africa’, as the co-founder and CEO of VALR, Farzam Ehsani claimed to be ‘too high’.
“So we decided to build VALR Pay. It’s free, fast, and easy. Why bother with banking details and branch codes? Just open up your VALR app, type in a ZAR amount, select a contact from your address book and you’re done,” he adds.
The native platform allows VALR customers to send ZAR to fellow customers and non-customers.
It also utilizes artificial intelligence and machine learning technology for authenticating customers’ identities.
New users also stand a chance for R1 million rewards.
“In addition to providing what we believe is the very best payment experience in South Africa, we are excited to be launching VALR Pay with over R1 million in rewards for early users,” Badi Sudhakaran, VALR co-founder and chief product officer said.
“Earn R20 every time you VALR Pay someone not yet on VALR. We’re known to have the best rewards program in the industry and have already rewarded our customers with over R50 million in cash and crypto since we launched VALR just two years ago.”