The Nigerian cryptocurrency exchange Yellow Card claims that its newest payment tool, Yellow Pay, makes it simpler for clients to transfer and receive money through its platform, particularly in African nations.
Yellow Card operations director Oparinde Babatunde says sending money from Nigeria to the United States is often easier than transferring it to other African countries.
For instance, if you are moving money from Nigeria to Ghana or Zambia is challenging and almost always accomplished using United States dollars.
For instance, moving money from Nigeria to Zambia or Ghana is notoriously challenging and is almost always accomplished using United States dollars.
Yellow Pay streamlines the process of moving money between African nations by developing a solution that considers how Africans already engage with various forms of financial services. We have successfully made it even easier by dramatically cutting down on both the fees and the waiting time associated with sending money across the continent compared to the more conventional methods of money transfer. “With Yellow Pay, people in Africa can use their mobile phones to send money across international borders,” he explains.
The service is cheaper because it uses blockchain technology. Second, transactions happen right away, so you don’t have to wait. You can send money for business, school, or healthcare, as well as gift cash to friends and family all over Africa, pay vendors in other countries, receive payment for services, and pay bills and fees in other African currencies. Money transfers are free, and there are a variety of functionalities available.
You can send money for school, business, healthcare, and school, as well and l as gift cash to family and friends all over Africa, pay vendors in other countries, receive payment for services, and pay bills and fees in other African currencies. Money transfers are free, and there are a variety of functionalities available.
According to Oparinde, “The people that would profit from Yellow Pay are mostly the undeserves and unbanked persons living in peri-urban areas and rural sections of the continent.”They typically do not satisfy the essential conditions set forth by banks to open a dollar account, so they are entirely shut off. Yellow Pay will attend to the needs of this market.
The introduction of Yellow Pay not only makes it simpler to transfer money but also paves the way for increased investment on the continent, improved access to credit and funding for businesses, and improved the convenience of conducting business.