Connecting Cross-Border Payments to Friends and Family, No Matter the Distance

Cross-Border Payments

Essentially Cointext users can send any amount of BCH to a mobile phone in 42 countries by text message. If an individual wants to utilize the Cointext and Anypay remittance solution, all they would have to do is visit an merchant and request a specific amount of cash. Then the merchant can generate an Anypay invoice which will contain a five-digit short code specifically designed for Cointext users. After that, when the shopkeeper’s invoice is paid by the person sending funds using Cointext, the vendor can hand the cash to the recipient. Anypay cofounder Steven Zeiler said that he was thrilled to launch an application that transcends borders for far less than what today’s remittance incumbents charge.

“Anypay connects friends and family no matter the distance,” said Zeiler. “Instantly receive money from anywhere for free — It’s easy. polygon pancake swap

BCH evangelist ‘Käptn Kook’ published a video that demonstrates just how easy the Cointext and remittance solution can be with a man named Mohammed Mustapha Yakubu who lives in Accra, Ghana. Mohammed’s brother Lamin resides in Heidelberg, Germany and Mohammed requested cash from a local vendor and relayed the shortcode to his brother on a phone call. Lamin simply paid the invoice using the Cointext shortcode and the merchant gave Mohammed the cash in just a few minutes. Top hardware wallets. “What just happened here is Mohammed bought cash in Ghana and he did it by having his friend in Germany send cryptocurrency to the store,” remarked Anypay cofounder Derrick Freeman.

The Bitcoin Cash (BCH) community was pleased to hear about the partnership between Anypay and Cointext and the announcement was a top post on the Reddit forum r/btc. A report by the World Bank estimates global remittances are well over half a trillion dollars annually and climbing. Many BCH supporters believe that bitcoin cash can make a significant dent in the $600 billion per year overseas remittance industry. Anypay and Cointext’s solution, alongside the benefits of BCH cross-border transfers, give the end user lower costs and quicker global money payments within minutes.