How To Send Money From Nigeria To Cameroon With Yellow Pay

The financial sector is a significant segment of any country's economy because it can contribute to the growth of the economy. However, a country's economic policies and systems determine if they will contribute to the development of the economy or not. 

Cameroon is a country that is located in the Gulf of Guinea in Central Africa, full of abundant human and natural resources. However, it faces significant challenges in its financial and macroeconomic sectors due to the inadequate means of sending and receiving money in the country.

This article takes a deep dive into the state of payments in Cameroon, its economic effects, and the new solution that solves the challenging financial service situation in Cameroon.

The State of Cross-Border Payments in Cameroon

According to data from The Global Economy, the international transfers received by Cameroon in 2020 were about 183.82 million U.S. dollars. This is far lower than the world average remittance recorded in more than 142 countries, at around 3.15 billion U.S. dollars, and reflects the payment problem in Cameroon due to the existing financial policies and systems. 

According to the World Bank, Cameroon's financial system is structured to depend excessively on its central bank. The excessive dependency on the Central Bank of Cameroon leaves out the development of intermediaries and the private sector, leading to slow development, poor liquidity, and difficulty in sending and receiving money within the country. 

As a result, Cameroon urgently needs an efficient way to send and receive money in the country, which is what Yellow Pay seeks to offer. A practical, cost-free way to send and receive money instantly is how bitcoin is changing lives positively in Cameroon.

How Yellow Pay Solves Payment Issues In Cameroon

Yellow Pay is a new way to send money to Cameroon and across Africa. It is a valuable product in 15 African countries where the parent company, Yellow Card exists. 

Yellow Pay is powered by crypto but allows you to send your local currency to another person without worrying about how to do a conversion. It is another innovation by Yellow Card in making crypto a part of our everyday life and simplifying its use in solving Africa’s problems. 

With Yellow Pay, you can send money to Cameroon, and the person will receive it immediately in Central African Franc.

Yellow Pay stands out from other products as a result of the following;

Convenient And Easy:

One of the most remarkable features of Yellow Pay is that it allows you to deposit your local currency on the app and transfer it to someone in another African country in seconds without needing a middleman exchanger. 

Better Exchange Rates:

Most existing fintech companies in Africa have higher exchange rates and don’t make deposits in Central African Francs. Yellow Pay uses artificial intelligence to provide its customers with the best reward rate per time.

Security Of Funds:

Yellow Pay ensures the protection of your funds and protects you from fraud by encouraging you to do the Know Your Customer (KYC) procedure. The platform is built from the ground up with the most advanced security features to keep your crypto assets safe. If you keep your data safe, you cannot be scammed on the platform. 

Fast and Prompt Transaction:

Your purchases and transfers are handled instantly and at the best rates when you use Yellow Pay to send money to Cameroon.

Great Customer Support:

We also offer an around-the-clock customer support experience, allowing you to conduct transactions conveniently with the assistance of the top customer service agents available to assist you.

Read More: Cryptocurrency trading tips you need to know.

How to Send Money To Cameroon With Yellow Pay

To send money from Nigeria to Cameroon on Yellow Pay, follow these simple steps:

• Login to your Yellow Card account.
• On the homepage, select “Pay” then “Send”
• Select the country code, enter the recipient's phone number, and tap “Check phone number”.
  If the person isn’t a Yellow Card verified user, you can invite them to open a Yellow Card account. However, you can send them the money with their phone number.
• Enter the amount you would like to send. You will also see the amount they will receive in their local currency. Select the reason for sending, then tap “Next” to continue.
• Review the transaction details, then “confirm” if everything is in order. 
• We sent off your money! Your recipient will receive a text message with the amount.

As you successfully send your money to your receiver in Cameroon using Yellow Pay, the amount is instantly reflected in their Yellow Pay account in Central African Francs.

If the person you send the money to isn't a Yellow Card customer, they receive a notification to signup and receive the money. The amount will be refunded to your account if they don’t sign up within 7 days. 

Read Also: How To Make Money Online In Cameroon

How to Receive and Withdraw with Mobile Money in Cameroon 

With Yellow Pay, you can request money from your family and friends and receive money in Cameroon from across Africa. After receiving money with Yellow Pay, you can withdraw it directly to your mobile money.

1. Here’s how to receive money with Yellow Pay:

Log in on Yellow Card. Sign up on the platform if you received money but are not a Yellow Card customer.  

NB: Sign up only with the registered number the sender used when setting up your account. Once you sign up and verify your account, you’ll see the amount reflected in your account in your local currency.

2. How to Withdraw Your Money:

• From your dashboard, select withdraw.
• Select Mobile Money
• Enter the amount you want to withdraw.
• Enter your mobile phone number and mobile money provider.
• Confirm the withdrawal details and input your 4-digit PIN.
• Your money will be instantly sent to your mobile number.

Remember, the money in your account is yours, and you can choose to hold it in the account or withdraw it instantly at any time of your choice. 

Yellow Pay For Africa

Yellow Pay is the cheapest, safest, and fastest way to send money from Nigeria to Cameroon today. With a presence in over 14 other African countries, our overall goal remains to bring financial inclusion to Africa.

We are making sending and receiving money across Africa very easy and cheap—not just how to send money from Nigeria to Cameroon and vice versa. 

Get Started With Yellow Pay Today

Disclaimer: Yellow Pay uses Yellow Card’s crypto exchange platform to complete customer transactions in USDT. Yellow Pay is not a money remittance or foreign currency exchange service