Crypto exchange platform, Yellow Card Financial has officially launched its Yellow Pay feature across Africa. The payment feature aims to enable users to send and receive money across Africa at a cheaper cost.

“Yellow Card Financial is excited to announce that their revolutionary new payment feature Yellow Pay, is officially available across Africa. With Yellow Pay, customers can send and receive money through the Yellow Card crypto exchange platform, without any extra charges, instantly with just a few taps on their phone,” the crypto exchange revealed on its website.

According to Yellow Card, the new product also uses the crypto exchange platform to complete customer transactions in USDT. 

Yellow Card further emphasized, “It is important to note that Yellow Pay is not a money remittance or foreign currency exchange service. Rather, Yellow Pay is an advanced crypto exchange product.”

Commenting on this new business move,  Chris Maurice, CEO and co-founder of Yellow Card stated, “This is more than just a money transfer service – it’s a powerful tool that will unlock new opportunities for people across Africa.”

“By enabling instant, low-cost transactions across borders, we are helping to create a more connected and dynamic Africa,” he added.

Yellow Card also highlighted in its blog post that since the product’s launch in Nigeria earlier this year, one of the major upgrades is that customers can now transfer money to anyone in all Yellow Card countries with just their phone number, and the recipient will be able to receive and withdraw the funds once they sign up. Previously only existing customers could send and receive funds with Yellow Pay. 

The crypto exchange also noted the other upgrade is that transfers within the same country are free.

To use Yellow Pay, a user has to deposit their local currency into the Yellow Card app. They then select the “Send” option and input the phone number of the person they want to send it to. If the recipient doesn’t have a Yellow Card account, they will receive an alert stating they’ve received money and they must sign up for an account to withdraw the money.

Once confirmed, the funds are instantly sent and the recipient can withdraw to their local currency (mobile money or a bank account).