Paychant is the largest cryptocurrency payment gateway in Nigeria, introduced today by Paypal as the new innovative way to request money in digital currency.
Through Paychant, users in Nigeria, Africa’s largest remittance-receiving nation can now request money in Bitcoin, Ethereum, and Tether from friends and family living abroad in a simple and low-cost method
Paychant users will be able to set up a payment link, which can then be shared with people via text message, email, social media, on instant messenger, or anywhere else, just as a way to request money in cryptocurrency.
“As digital currencies have shown to be the most reliable means for frictionless cross-border payments, facilitating fast transactions with low fees in Africa, we needed to simplify its peer-to-peer payments system, and make it easy and intuitive to receive crypto-payment with just a simple personalized URL” The company explained.
For the first time, users can now receive Bitcoin and other digital currency without the need for crypto addresses or even any prior knowledge of cryptocurrency. Payments received are instantly converted to cash and it goes straight into the user’s bank account.