Connecting Payments with Africa and China

BitPesa now offers businesses and individuals a faster, more cost-effective way to send or receive payments between Africa and China.

China-Africa trade increased to more than $170 billion in 2013, according to the World Bank. However, the cost of sending payments from Africa to China remains high, often taking days to settle on the other end. Using BitPesa’s digital platform, businesses can now send instant payments in local currency directly from African bank accounts to Chinese bank accounts. BitPesa’s offers low-cost, instant payments from Nigerian Naira and Ugandan Shillings directly into Chinese Yuan. Businesses can now make easy payments for employees, distributors, or suppliers without using cash or the US dollar as a middle currency.

Elizabeth Rossiello, CEO at BitPesa explains, “businesses rely on our technology to send or receive payments faster and cheaper than anywhere else. With this integration, they now have a direct way to make a payment in local currencies between China and Africa.”

BitPesa has experienced a rise in transaction activity, particularly with global importers and exporters. African importers use BitPesa.co for secure payout to their Chinese suppliers. At the same time, Chinese exporters have recommended the platform to African purchasers because of the built-in settlement automation.

Afro-Sino trade continues to grow at a rapid pace. “BitPesa’s digital platform was built as an infrastructure solution to meet this growing demand in this important corridor,” adds Rossiello. “It is essential that African and Chinese businesses can connect directly, without first sending their payments through a middle currency.”

BitPesa’s digital platform currently offers payments to, from, and within Nigeria, Kenya, Uganda, Tanzania, and the Democratic Republic of Congo. Going forward, the company will continue to open up major payment corridors to better serve the growing number of people doing business in Africa.

Get started today by registering for a free account at mybfx.co/register.

Related Articles

BitPesa’s 5th Anniversary: Celebrating 5 Years of Growth

Nov 19, 2018 | Company Announcements

Blink… And we’re five years old! From a makeshift office in a Nairobi living room to five fully-fledged offices across Africa and Europe, BitPesa has come a long way since November 2013. As we celebrate our anniversary this year, we are very proud that our loyal customers and dedicated team have brought in such huge […]

sompo bitpesa investment

Sompo Holdings Partners with BitPesa to Revolutionize Cross-Border Payments

Nov 9, 2018 | Company Announcements

Tokyo, Japan–November 9, 2018–Sompo Holdings, Inc. (head office: Shinjuku, Tokyo, Group CEO & President: Kengo Sakurada, hereinafter “Sompo Holdings”) has announced a business alliance with BitPesa, leading digital foreign exchange platform and treasury solution based in Africa that leverages blockchain settlement to significantly lower the cost and increase the speed of business payments to and […]