Ultimate and Essential Guide of Using Yellow Pay to Make Cross-border Payment across Africa.
Yellow Pay is a cross-border payment service
Yellow Pay is a Fintech company that focus on offering instant, cheap and seamless cross-border payment services across Africa.
Yellow Pay is a product of Yellow Card, and it was launched for the purpose of sending and receiving money in a simpler and cheaper way across Africa.
However, Yellow card which is the parent company base on offering of crypto trading (buy and sell) in over 15 countries across Africa. In addition, you can send crypto and receive crypto to your crypto wallet from anywhere in the world.
How Yellow Pay solves problem in Africa.
Yellow pay, apart from crypto services that it parent company "Yellow card" offers, it offers remittance services that allows people of Africa to send and receive money in their local currencies.
Sending and receiving money within a country can be a hassle, not to talk of doing cross-border payment.
Meanwhile, the main challenge is that there is often no reliable direct exchange of African fiat currencies. You would likely have to transfer the money in dollars, and then the recipient converts it to their local fiat currency. In the process of exchanging, the value of the money usually reduces.
However, the most common and traditional methods of sending money in Africa often charge high fees for sending funds across borders due to the complex processing steps involved.
Additionally, the transactions may take hours, days or even weeks. At the same time, you have to go through a rigorous documentation process at the local remittance shop to complete the transaction.
Notwithstanding, Yellow Card has come to solve all these problems and challenges by providing quick and effective financial service called "Yellow Pay".
Yellow Pay is another money changer that ensures this process is much simpler, convenient and seamless for the sender and receiver, especially for those who are still not conversant with crypto to send and receive cross-border payments.
How Yellow Pay Works
Yellow pay works in the sense that you will be able to transfer funds to other customers in their local currency using their registered mobile number.
The payment service also work without cryptocurrency in such a way that you can directly send funds in your local currency, and the recipient receives it directly in their local currency.
For instance, you want to send money from Nigeria to Kenya. You'll need to open a yellow pay account and deposit money through your local Nigeria bank account.
Then transfer the money from your yellow pay wallet to your recipient in Kenya yellow pay account.
From there, your recipient in Kenya can then send it to h/er KENYA local bank account.
Apart from receiving the money in your bank account, you can also withdraw the fund from any MoMo Agents near you. That's simply how Yellow Pay Works.
How Yellow Pay uses Yellow Card Crypto Rail.
This is how Yellow Card Crypto Rail is being used to process cross-border payment. To simplify the transferring process, users are allowed to send money using recipient mobile number, which is easily accessible.
Yellow card uses crypto arbitrage to process Yellow pay payment. Here's how it works.
Yellow card is a crypto exchange platform that owns bitcoin and USDT liquidity which is being use to process the cross-border payments.
For instance, you send money (NGN) to friend in Kenya, Yellow pay system will automatically convert the NGN to USDT using Yellow Card Crypto Rail, and then automatically convert it to Kenya Shellings which will be transferred to your friend's local bank.
That's how Yellow Pay uses Yellow Card Crypto Rail to process cross-border payment services across Africa in a quick, easy and convenient ways.
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How to Open Yellow Pay Account
Here is how to get started with Yellow Pay. Kindly follow the below step-by-steps guides to open a yellow pay account.
Get started by download a Yellow Card App
Install and Launch the App
Sign up and verify your Email
Fund your "wallet" with your local currency
Go-to "pay" in your dashboard and choose "send"
Enter "recipient mobile number" that's attached to h/er "Yellow Card Account"
Input "amount" you wish to transfer
Confirm the details and complete the transaction with your pin.
Without stress, the recipient will receive funds inside his Yellow Card Account ASAP, as the payment processong methods are automatic.