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Yellow launches Bitcoin voucher service in Egypt

Tuesday 19 May 2015 10:23 CET | News

Bitcoin payments startup Yellow has launched a bitcoin voucher service in Egypt, as an alternative solution for the payment platforms in the Middle East.

Yellow’s voucher service allows its customers to purchase vouchers as “tickets” on eventtus.com with credit cards (Visa, MasterCard), PayFort and Vodafone point-of-sale machines.

As the Egypt’s credit card penetration rate is below 2% and only 10% of the country’s population holds bank accounts, Bitcoin vouchers may not be enough to increase the liquidity of bitcoin in the nation.

According to Yellow, 70% of the 15 countries in the Middle East are either unbanked or have poor payment system infrastructures. Moreover, merchants usually pay around 5% in transaction and processing fees. Wamda also reports that only 10% of the country’s population holds bank accounts and less than 2% of the population has credit cards.


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Keywords: Bitcoin, online payments, digital payments, cryptocurrencies, Yellow, Egypt
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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