How to Send Money from Nigeria to Zambia With Yellow Pay

With Yellow Pay, you can send money easily from Nigeria to Zambia and vice versa. Cross-border payment is integral to many countries' economies because it contributes significantly to the GDP and improves people's lives, and Zambia is not exempted from this economic activity. 

Data from the Global Economy, as of 2021, shows that Zambia payment is valued at about 241.69 million US dollars. However, the state of payment in Zambia is poor as the world average as of 2021 was $4566.00 million, although there is room for improvement. 

Let’s take a look at how to send money from Nigeria to Zambia in minutes and how this is changing the economic landscape in the country.

The State of Cross-border Payment in Zambia 

As a result of the below-average payments received by Zambia, the percentage of payments contributing to the country's GDP is low at about 0.69815 % in 2020. 

However, it has dramatically improved when comparing the value of cross-border payments received by Zambia in a decade. As of 2010, the number of payments accepted by Zambia contributed only about 0.2692% of the country's GDP. 

Zambia is experiencing issues regarding cross-border payment because of many factors, but the major problem is its financial sector. Zambia has many cases regarding sending money into and out of the country, mainly because of the high rate. 

It costs a large chunk of money to send any amount into Zambia; the rate charged by financial institutions and services is very high compared to other countries. To send about $100 to Zambia, the sender has to pay 8.2% of that amount in charges. This makes it hard for those in the diaspora to send vast amounts of money to their families and relatives. 

Another issue is that getting the suitable identification required to receive and send money across Zambia is hard. However, the government of Gambia continues to address the problems faced in getting identification documents and the issues with dual citizenship.  These are the problems that Yellow Pay has solved successfully.

How Yellow Pay Simplifies Money Transfer From Nigeria To Zambia

In Zambia and beyond, Yellow Pay represents another step toward financial inclusivity. Yellow Pay's debut not only streamlines payments but also expands investment opportunities and access to credit and does business between Nigeria and Zambia.

Yellow Pay has many benefits, such as cheaper payments, quicker payments, paying vendors, and sending money to friends and relatives in other African countries effectively. With this launch, you can now use Yellow Pay to send and receive money from Nigeria and some African countries to Zambia quickly.

How to Send Money From Nigeria To Zambia With Yellow Pay

To send money to Zambia 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 in Naira 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. 

You have now successfully sent your money to your receiver in Zambia using Yellow Pay, which is instantly reflected in their Yellow Pay account in Kwacha.

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

How to Receive and Withdraw Money in Zambia With Yellow Pay

You can request money from loved ones or customers and also withdraw your money on Yellow Card directly into your account through a standard bank transfer or Mobile Money.

Here’s how to receive money with Yellow Pay:

1. 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. Withdraw your money with ease:

• Log in to your Yellow Card account
• From your dashboard, select Zambian Kwacha
• Select Withdraw
• Select Manual Mobile Money
• Enter the amount you want to withdraw
• Tap continue
• Input your Mobile Money phone number
• Enter your name
• Select Mobile Money network provider
• Confirm your withdrawal and enter you pin
• You will then receive an SMS confirming your transaction

Yellow Pay For Zambia

Yellow Card’s overall goal remains to bring financial inclusion to Africa, and launching Yellow Pay is a further step in that direction. We want to make money transfers easy and cheap across African borders, not just to send money from Nigeria to Ghana and vice versa.

While we have been using cryptocurrency for trade and exchange in the past, we are expanding our product offering to serve new customers that may not be keen on using cryptocurrencies. They can now use Yellow Pay to transfer money across Africa quickly and cheaply.

Get started with Yellow Pay Now.

Read Also: How To Make Money Online In Nigeria

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