BitPesa Expands Bitcoin Remittance Service to Tanzania
BitPesa has made a name for itself in the world of Bitcoin-enabled remittance services. Up until this point, though, most of BitPesa’s efforts have been focused on Kenya, one of the most underbanked countries in the world. But yesterday, the company announced its expansion into Tanzania. The remittance market is being dominated by a handful of players, all of which charge high fees for their services. Furthermore, seeing how most of the African population has limited to no access to a bank account, there are not many options available for moving funds in and out of the continent. However,....
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African Bitcoin startup BitPesa launched its remittance service in Tanzania today. The service previously was available only in Kenya, where the company is headquartered. It hopes to undercut the fees charged by incumbents' remittance services. BitPesa launched its international money transfer in Kenya last year with the goal of expanding the service to the rest of Africa, something the company has slowly been working toward. Besides its remittance product, the company operates an exchange in Kenya and Ghana but Tanzania is the first country the startup has expanded its international money....
Users in Kenya, Uganda, Tanzania, Nigeria and the Democratic Republic of Congo can now send money directly to bank accounts in China. BitPesa, through its website, is helping businesses in China and Africa to send instant payments in local currency directly from African bank accounts to Chinese bank accounts. Users in Kenya, Uganda, Tanzania, Nigeria and the Democratic Republic of Congo can now send money directly to bank accounts in China. The remittance service offered by BitPesa is low-cost as it cuts conventional money transfer costs by up to 60%, according to the company. The trade....
Bitcoin remittance provider BitPesa has officially launched its beta test. The Kenya-based company offers a 3% cut-rate fee, and is aiming to target the country's expats abroad who send $1.17bn home annually, according to The Wall Street Journal. Users send their bitcoin to BitPesa, which then converts the amount into the local Kenyan currency and sends it on to the recipient. The service promises same-day delivery and no hidden fees. BitPesa aims to disrupt a traditional remittance market that often imposes high costs on those wishing to use remittance services. For example, the cost of....
BitFury announced on Monday that it has invested in BitPesa, a universal payment and trading platform for the African continent, via its investment wing BitFury Capital. Why BitPesa? The platform allows individuals and businesses to send payments to and from African countries; namely, Kenya, Nigeria, Uganda, and Tanzania. BitPesa accepts Bitcoins from anywhere in the world and exchanges it for local African currencies. In addition, BitPesa offers a service to convert the local African currencies into international currencies with the use of Bitcoin, hence removing the dependence on the US....
BitPesa.co, a new global remittance company servicing Kenya's ever-expanding population, is planning to use bitcoin. The company is targeting Kenya's $1.17bn annual remittance market by offering a 3% cut-rate fee on all transfers, Bloomberg Businessweek reported today. Bitpesa's CEO Elizabeth Rossiello said the new service is aiming to gain 1% of Kenya's remittance market within a year of launching in March 2014: a figure that will equate to roughly 6,500 transactions per month. According to Rossiello: "There are no other market entrants trying to solve the problem of the very high cost of....