Be Mobile Africa Launches Crypto Payments Gateway
Customers will be able to automatically convert incoming crypto payments into ZAR, USD or EUR or have the option to store crypto fully on the virtual bank platform.
Be Mobile Africa, a pan-African startup in virtual banking, has announced the opening of its cryptocurrency payments gateway, which will let companies and merchants in Africa accept and process payments in Bitcoin (BTC), other cryptocurrency portfolios like Ethereum (ETH), as well as USD stablecoins like USDC and USDT.
Customers will have the option of storing all of their cryptocurrency on the virtual bank platform, or they may choose to automatically convert incoming crypto payments into ZAR, USD, or EUR, the statement claims. The start-up stated that real-time transactions and costs up to ten times less expensive than those of traditional banks will be available to SMEs through the new cryptocurrency payment gateway.
Be Mobile Africa CEO, Dr Cédric Jeannot stated that the payment gateway would enable accessibility to Africa’s thriving crypto market. “It’s important to remember that for a multitude of reasons, Africa is one of the fastest-growing crypto markets in the world. Many African businesses don’t have access to the same tools that are available in the western market and are therefore leapfrogging to crypto when it comes to payments…This new payment gateway is a game changer.”
In September, the Canadian neobank made its formal debut in South Africa. Be Mobile Africa, an organization with a presence in 30 other African nations, aims to provide financial services to the unbanked and underbanked in the nation. In addition to not charging monthly account fees or requiring a minimum balance, the platform allows South Africans to transfer, receive, retain, and save money in both US dollars and euros. It is presently accessible in 30 nations throughout the continent, and it intends to open up new markets and provide its commercial offering shortly.