How to Send Money from Rwanda to Uganda With Yellow Pay

Before now, making quick payments in Rwanda and to other African countries was impossible. Today, things are much better than before, as you can make fast, low-cost, and secure online money transfers in Rwanda, Uganda, and other African countries.  

Like many other developing countries, Rwanda sees digital finance as a critical enabler of financial inclusion and is championing financial technology across the country, which has made some progress and enabled Yellow Pay. 

Yellow Pay has become the fastest, most secure, and most preferred way to send money from Rwanda to Uganda and other African countries, and this article will show you its benefits and how to get started. 

The Need To Foster Financial Inclusion In Rwanda

According to the World Bank, financial inclusion refers to the availability and delivery of practical and affordable financial products and services to individuals and businesses in a community, such as payments, transactions, savings, credit, and insurance. 

As Rwanda pushes for the next level of digital revolution within the country, there is a need to power a winning solution for easy payments and financial literacy in Rwanda that will bring more financial inclusion. 

Other reasons why we need financial inclusion to include the following: 

To Reduce Poverty: 

The Global Plan of Action 2030 aims to significantly reduce poverty and inequality by expanding access to the most basic financial services. 

Financial inclusion could solve many of the most severe issues in Africa today. The benefits of financial inclusion are the ability to save, make cross-border payments, expand your business, increase consumption, make investments, and improve the standard of living.

Sustainable Development:

The availability of financial services helps to balance consumer behavior, better plan costs, address health risks, and increase investments. Financial inclusion offers benefits such as reduced financial risks, financial stability, and increased economic activity on a global scale.

The ongoing mobile payment revolution in Africa will be critical to achieving long-term development in Rwanda and throughout Africa. Yellow Pay's launch is a testament to our mission of bringing financial inclusion to Africa.

How Yellow Pay Fosters Financial Inclusion in Rwanda

Financial literacy: 

Low financial literacy is a major obstacle to greater financial inclusion. Yellow Card goes beyond enabling swift payments to initiate financial literacy programs, which are essential for people in Rwanda to make better economic decisions. The Yellow Card Academy is another such initiative to promote financial literacy in Africa.

Regulation and digital compliance: 

Yellow Card is registered to operate securely in over 16 countries where it operates. This is important to ensure the safety of customer funds, lawful operations, and a strengthened belief in digital payments. 

Cheap and Fast Transaction: 

The cost of online payments has been one of the biggest hurdles for people to grow their businesses and reach scale in Rwanda. Even bank charges for customers and small business owners when making digital payments are too much, making Yellow Pay unique. With Yellow Pay, you enjoy zero costs for making payments within Rwanda and to other African countries. 

Pan-African Initiative:

Yellow Pay is a money transfer service that enables you to send money to more than 16 African countries. Yellow Pay's purpose is to allow you to make money transfers in a simple, fast, and secure way across Africa.

How To Send Money From Rwanda to Uganda

To send money from Rwanda 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. 
• Money sent! Your recipient will receive a text message with the amount sent. As you successfully send money from Rwanda to your recipient in Uganda, the amount shows in their Yellow Pay account.

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 7 days. 

How to Receive Money and Withdraw in Uganda with Yellow Pay 

Yellow Pay allows you to also request money from your friends and family. You can easily request and receive money in Uganda. All you have to do is click on the “request” button, add the sender’s number, and the sender receives a custom message allowing them to send you money instantly. 

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.

1. You can withdraw your money on your Yellow Card dashboard directly into your account through a standard bank transfer or Mobile Money. From your dashboard, go to your balance wallet and choose the amount to withdraw.

To withdraw with a bank transfer, simply put in your bank account details and send it. 

To withdraw with mobile money, follow these steps:

• From your dashboard, select withdraw.
• Select Bank Account
• Enter the amount you wish to withdraw.
• Enter your MOMO mobile phone number as the Account Number 
• Confirm the withdrawal details and input your 4-digit PIN.
• Your money will be sent to your mobile number within 12 hours.

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. 

Send Money From Rwanda To Uganda Safely and Cheaply With Yellow Pay 

Unlike in the past, Yellow Pay makes it quick and simple to send money to Rwanda and Uganda today. Yellow Card is operational in over 16 African countries, allowing you to send money to any of these countries at no additional charge. 

Yellow Pay makes it convenient to send money to Uganda and track transactions from your phone. The financial sector's use of technology has resulted in a wide range of financial products and services easily accessible on mobile phones, which promotes financial inclusion.

Start Sending Money Using Yellow Pay

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