Yellow Card Launches "Yellow Pay" Payment Future

Cryptocurrency exchange platform Yellow Card, which is present in 9 African countries including Botswana, has launched Yellow Pay, a payment feature the company claims make it easier for customers to send and receive money through its crypto exchange platform, without any extra charges, instantly all from the comfort of their home. 

Yellow Pay uses Yellow Card’s crypto exchange platform to complete customer transactions in USDT. The company clarifies that Yellow Pay is not a money remittance or foreign currency exchange service but rather an advanced crypto exchange product.

Some benefits of using Yellow Pay, according to Yellow Card, include cheap, instant and zero-fee transactions. 

The feature has several use cases including enabling users to send money for business, school and healthcare. The feature will also allow users to 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. 

Speaking on the launch of Yellow Pay, Oparinde Babatunde, Yellow Card Director of Operations, mentioned that, “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 drastically compared to traditional money transfer rails. With Yellow Pay, Africans can send money across borders using their phones.”

“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 necessary requirements to open a dollar account with banks and as such are cut off completely. Yellow Pay will service this market,”he concludes.

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