Paying money internationally? Explore the international payment methods on the bitnob app.
The world is getting smaller, and doing business or shopping across borders is becoming increasingly common. Whether as an established or a budding entrepreneur, it’s important to always consider your international audience when choosing your payment methods.
In times past, businesses and individuals have had to deal with several headaches when making payments internationally. Issues include; multiple fees, currency exchange markups, delays for time-sensitive transactions, security, inaccessibility, and hidden fees. All of these have wayed people off international payments, although the truth is making international transactions is totally unavoidable.
However, not anymore! All of these challenges have been solved with Bitnob. This blog is your one-stop guide to navigating international payment methods. We'll explore everything from international transfers, debit cards, etc., helping you choose the best option for your needs. So, buckle up and get ready…..
International Payment Methods On The Bitnob App
The Bitnob App focuses on offering international payment solutions within the African continent and also has functionalities for global transactions. Let’s do a breakdown of the relevant payment methods on the Bitnob App:
Bank Transfers
Bitnob Transfer feature primarily caters to African countries where Mobile Money is the dominant payment method which makes it a method for paying internationally. The feature allows users to send money directly into bank accounts and mobile money wallets of friends and relatives in African countries. You can send money to directly pay at local shops and businesses which are enabled to accept mobile money payments.
Before now, transfers usually take an average of 2-4 days before it gets to the recipient’s country. Recipients oftentimes have to wait in long queues or go through cumbersome processes before having access to their money. With the Bitnob transfer feature, you can now send money into a person’s bank account or mobile money wallet in any of the countries supported by Bitnob. The recipient does not need to have a Bitnob account before you can send them money.
To make a direct transfer into someone’s bank account or mobile money wallet, all you need is their bank or mobile money wallet details and they’re a few taps away from receiving the money you sent.
How to Transfer Money From Bitnob to a Recipient in an African Country
- Tap on the “Transfer” button on the Quick Links section of the homepage
- Tap on “Transfer to Bank or Momo”
- Tap on “Change currency” to select the country of the account or mobile money wallet you want to transfer money to
- Fill out the amount you’d like to transfer, then tap on “Continue”
- Select the account or mobile money provider and fill out the details of the account your want to send money to. If this person would be someone you intend to send money often, then tap on “Save as beneficiary” to make make the person a beneficiary.
- Tap on “Proceed to Transaction Note” to add a note on the transaction
- Review the transaction summary and then tap on “Proceed” to initiate payment to the account or mobile money wallet.
Virtual Debit Card
Another key international payment method is the Bitnob virtual card. They are digital payment cards that offer a convenient and secure way to make online purchases. Creating a virtual card on Bitnob is quick and easy, eliminating the need to visit a physical bank to get a physical card for your online transactions.
One of the primary benefits of using the Bitnob Virtual card is enhanced security. So, there's no risk of it being lost or stolen. This reduces the chances of unauthorized access to your account information. You can fund it with your Bitnob wallet balance and use it for international online payments at websites that accept Visa or Mastercard.
How to Create a Bitnob Virtual Card
- Tap on “Cards” on the Quick Links section of the homepage
- Click on “Create a new virtual card"
- If you’ve not done your KYC, you’ll be requested to complete your KYC.
- Enter the amount you want to fund your card with then tap on “Next Create Card”. You can top up a minimum of $3 and a maximum of $1,000.
- Personalize your card then tap on ‘Next - Confirm your transaction pin’
- Enter your transaction pin
You’ve successfully created your virtual dollar card and funded it. It’s now all set and ready to use.
Paying With Bitcoin
Bitcoin transactions aren't controlled by any single entity like a bank. This can be appealing to those who value anonymity and independence. Bitcoin has a global reach, so in theory, you can send Bitcoin to anyone anywhere in the world with a Bitcoin wallet address. This can be useful for sending money to countries with limited traditional banking infrastructure.
But what makes Bitcoin secure? Bitcoin exists exclusively on the blockchain, a shared digital ledger that’s distributed across a large number of computers. Every time a participant in the blockchain makes a transaction, it is authorized, and a block is created to represent it, which is then sent to every computer in the network. Transactions are recorded on a secure public ledger called the blockchain, making them tamper-proof.
It has a fast setup. No need to set up bank accounts or go through traditional financial institutions.
Ready to Shop with Bitnob
The world has become so interconnected, so sending money internationally is no longer a daunting task. With the bitnob App, you can use the transfer feature, the virtual debit card and Bitcoin to make payments internationally. So long as you have the money to spend, you should be able to spend it the way to want to and where you want to.
Ready to experience the ease and security of the Bitnob App? Download the Bitnob app and activate your account to get started.