Yellow Pay: Yellow Card's New Payment Feature That Allows Users To And Receive Money Across Africa
Aug. 16, 2022, 2:45 p.m.
Yellow Card Financial has announced its new payment feature, Yellow Pay, an innovative solution that will make it easier for customers to send and receive money through the Yellow Card crypto exchange platform. Users can transact instantly without any extra charges, all from the comfort of their homes.
Yellow Pay is a blockchain-powered feature that uses Yellow Card's crypto exchange platform to complete customer transactions in USDT. Yellow Pay is not a money remittance or foreign currency exchange service. Rather, Yellow Pay is an advanced crypto exchange product; the company says
Yellow Pay is cheap, has instant transactions, and free money transfers. Furthermore, users can send money for business, school, healthcare, and as gift cash to friends and family across Africa, pay vendors in other countries, receive payment for services, pay bills and fees in other African currencies, and so much more.
The launch of Yellow Pay not only makes it easier for money transfer but also opens up the continent to more investment, access to credit, and business grants, and generally will improve the ease of doing business.
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Oparinde Babatunde, Yellow Card Director of Operations, says one of the biggest challenges in Africa is the difficulty in money transfer. Stating that it is easier to send money from Nigeria to the US than it is to send money from Nigeria to Ghana or Zambia. And in the instances where it is possible, it is usually through USD.
"Yellow Pay simplifies money transfer between African countries by building a solution that understands the way Africans already interact with financial products. We've managed to simplify it further by reducing costs and waiting time of remittance across the continent compared to traditional money transfer rails. With Yellow Pay, Africans can send money across borders using their phones," he says.
Oparinde adds, "The people that will benefit from Yellow Pay the most are the unbanked and underserved people living in peri-urban areas and rural parts of the continent. They usually do not meet the requirements to open a dollar account with banks and are cut off completely, and yellow Pay will service this market".
tag: Fintech, Blockchain, yellow card, ghana, finance,
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Verny loves to write poetry, fiction and quotes. Her love for writing landed her in journalism. She loves gadgets and travelling to explore new places.