Paycorp partners with Triple-A to support digital currency withdrawals

Monday 15 January 2024 14:29 CET | News

Payment processing solutions provider Paycorp has partnered with Singapore-based digital currency payment institution Triple-A.


The main goal of this collaboration is to enable users of the Paycorp-powered CryptoExpress app to utilise their digital currencies for cash withdrawals at the thousands of ATMs across South Africa. Paycorp specialises in ATM network management and transaction processing. The company operates South Africa’s largest independent ATM network, including the 'Cash Express' ATMs in residential, commercial, and retail areas. 

The CryptoExpress app, leveraging a segment of Paycorp’s existing Cash Express ATM network, facilitates cash-outs in South African Rands from digital currencies such as Bitcoin, Ethereum, USD Coin, and Tether. The app, available for free on iOS and Android, offers users the ability to authorise transactions in their digital currency wallets, generating withdrawal voucher PINs for use at Cash Express ATMs. 

In the official press release, representatives from Paycorp emphasised the company's commitment to enhancing cash accessibility through this collaboration. Triple-A officials expressed enthusiasm for partnering with Paycorp, highlighting their shared goal of bridging the gap between digital and traditional currencies.


Payment processing solutions provider Paycorp has partnered with Singapore-based digital currency payment institution Triple-A.


More information about the two companies

Paycorp, headquartered in South Africa, operates in Southern Africa and Eastern Europe. The company offers a range of payment products and services, including cash management, transaction processing, value-added services, and business funding. 

Triple-A provides businesses with solutions for payments in both traditional and digital currencies, aiming for volatility-free transactions. The company is licensed by the Monetary Authority of Singapore, the ACPR in the EU, and registered with the US Financial Crimes Enforcement Network (FinCEN) as a Money Service Business. 

In December 2023, STX Corporation worked with Triple-A to introduce digital currency payments on the TROLLYGO platform. TROLLYGO is a B2B platform facilitating online trade of industrial goods and raw materials, ranging from steel to eco-friendly materials. The platform incorporates digital currency payments through a globally licenced digital currency payment institution.  

In the official press release, representatives from Triple-A highlighted the significance of the collaboration with STX, emphasising the integration of digital currencies into the payment ecosystem as a cost-effective, volatility-free, and efficient method for cross-border transactions. 

In November 2023, Zodia Markets has announced a partnership with Triple-A. The partnership aligned with the shared vision of both Triple-A and Zodia Markets to support innovation initiatives in the financial sector while respecting rigorous regulatory compliance standards. According to the official press release, the mutual goal of the two companies was to improve accessibility to digital assets for companies in a secure manner. 

For more information about Triple-A, please check out their detailed profile in our dedicated, industry-specific Company Database.

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Keywords: partnership, digital assets, ATM, payments
Categories: DeFi & Crypto & Web3
Companies: Paycorp, Triple-A
Countries: Africa
This article is part of category

DeFi & Crypto & Web3




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