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Paychant Rolls Out New Service To Send Bitcoin To Any Bank Or Cash Pickup In Nigeria

Fintech

Startups

Nov. 18, 2020, 4:28 p.m.

Paychant launched Send Money, its cross-border money transfer service.

Founded in 2019, Paychant is a cryptocurrency payment gateway with the aim to increase the adoption of cryptocurrency payment in Africa.

People living abroad can now use the Send Money service to quickly send money via BTC, ETH, and USDT to any bank account, cash pick-up point, or airtime top-up in Nigeria.

Remittances are highly important in Africa, as it is estimated that over 25 million people are expats from Sub-Saharan countries as of 2017 and that this group remitted more than $48 billion in 2019.

The traditional money transfer services fees remain at a very high cost, as remittances below $200 to African countries, cost an average of about 9%. Paychant strives to redefine the remittance industry using digital currencies as a tool for cross-border money transfer, offering a lower-cost and faster remittance experience.

“This is a significant milestone towards fulfilling Paychant mission to make the movement of money more easy, fast, secure, and affordable. With Paychant, someone in the UK, U.S, or anywhere around the world can send cryptocurrency directly to any bank account in Nigeria.” The founders explained during this press release.

People can send up to $3,000 transaction daily with no signup required. A tracking number is generated to track the progress of the transaction, and senders get an email notification whenever the transfer gets to recipients.

In a few easy steps, users can get money across to their loved ones in Nigeria, either through their bank account or cash pick-up point. The cash pick-up option will help the unbanked receive remittances conveniently.

To get started visits https://send.paychant.com/

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Dorcas

Dorcas Benewaa Author

Dorcas is an upcoming journalist. She loves the creative arts and loves to write about startups, digital arts and issues in the tech sector.

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