BitPesa, SBI Remit Partner for Blockchain Payments Between Japan And AfricaBitPesa, a digital treasury management solution that leverages blockchain settlement to lower the cost and improve the speed of payments to and from frontier markets, has teamed with SBI Remit, Japan’s largest remittance service provider, to make it easier for Africans to buy Japanese products.
The two firms are leveraging blockchain technology to reduce friction, improve efficiency and interoperability for cross-border payments between the two continents. The partnership will help businesses scale faster between Japan and Africa.
Conversions Simplified
The partnership allows the African customer to deposit funds in their local currency directly into BitPesa’s local bank account, Elizabeth Rossiello, founder and CEO of Nairobi, Kenya-based Bitpesa, told CCN. “They don’t need to do any conversion,” she said. “Our fees are much lower than most banks’ transfer fees.” In addition, the transfer happens much faster than the two weeks it would take most banks, depending on the amount.
“Using SBI Remit’s payout network, we transfer the money to SBI Remit, and they can pay out to their large Japanese network,” she said. “There is a flow of funds by Africans to Japan.”
https://www.ccn.com/bitpesa-sbi-remit-partner-for-blockchain-payments-between-japan-and-africa/
