[PRESS RELEASE: 21 JUNE 2021]
VALR, one of the largest exchanges in South Africa, has announced the launch of VALR Pay – a free, fast, and easy way to send South African Rand (ZAR) payments to any mobile number or email address.
VALR Pay works by allowing VALR customers to send ZAR to each other at zero cost. VALR customers are able to send ZAR to any mobile number or email address even if the recipient does not yet have an account with VALR.
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The recipient will receive an email or sms with an invitation to sign up to VALR for free to claim the funds.
Speaking about the launch of VALR Pay, Farzam Ehsani, CEO, VALR, said:
“The cost and friction of payments in South Africa is too high. So we decided to build VALR Pay. It’s free, fast and easy.
Why bother with banking details and branch codes? Just open up your VALR app, type in a ZAR amount, select a contact from your address book and you’re done!”
– CEO, VALR
In order to get more people using VALR Pay, the exchange has launched a $70, 000 rewards campaign for ealy users.
VALR has a userbase of over 150, 000 and touts over 55 listed cryptocurrencies, making it one of the largest exchanges in South Africa.
In mid-2020, VALR raised $3.4 million led by BitMex and Bittrex to expand its footprint on the African continent.
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