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Afripay unveils decentralized payment protocol; revolutionizes the African payment landscape

By Pavithra R

April 26, 2021

  • Africa
  • Afripay

Afripay, a decentralized payment protocol built for business owners and entrepreneurs, has unveiled the first decentralized payment protocol that leverages the Binance Smart Chain to free Africans and African businesses from the stronghold of financial institutions.

In Africa, business people and entrepreneurs are left stranded without scaling their business ideas. African businesses find it difficult to accept payments from their customers overseas. They are faced with poor economic policies by the government, hefty transaction fees charged by banks, high-income tax rates, and trade and customs regulations, among other draconian policies. Through the launch, Afripay aims to resolve these challenges for entrepreneurs and independent contractors using banks and traditional payment processors to receive payment from their clients.

Afripay is transparent, user-friendly and guarantees fast payment processing. It helps facilitate cross-border payments without paying charges. It has a utility token with the symbol APAY. This token is the native currency of the Afripay protocol. Users can use the token to pay for goods, services, and transaction fees on the platform. With Afripay, business owners can easily send and receive payments from their partners abroad, individuals can also save and invest via the Afripay platform to make a profit.

Afripay is a secure cryptocurrency payment solution that allows merchants, businesses & freelancers from Africa and globally to accept transactions of cryptocurrencies as payment from customers in exchange for goods or services. It uses cutting-edge technology to help businesses to scale the hurdle of depending on financial institutions or traditional payment processors like PayPal, Skrill, and Perfect Money.  The team at Afripay is planning to roll out token sale in the coming weeks.

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