BitPesa releases fund to recipients in their local currencies, which can be deposited into bank accounts or paid out in shillings on mobile devices. Since the number of feature phones and low-end smartphones is on the rise in Africa year over year, BitPesa is targeting mobile users.
In addition to its remittance services, BitPesa offers benefits for businesses. Companies can directly pay their suppliers and employees by sending funds to a mobile phone number or bank account.
Looking to grow its customer base, BitPesa has expanded their business model to Tanzania. This is the second country in Africa where BitPesa will be offering their services. Similar to how its service works in Kenya, BitPesa lets anyone in the world send money to any mobile phone number in Tanzania. It is important to notice that all of Tanzania’s mobile money operators are included in this service, giving BitPesa a way to cover the entire country in terms of Bitcoin remittances.
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