Data Mynt Partners with Yellow Card Financial to Enable Cash Payouts for Merchants and Platforms Across Africa
Data Mynt’s strategic partnership with Yellow Card Financial allows merchants and platforms across Africa to accept and send payments in digital assets in person and online, settle immediately, and now withdraw funds directly to their mobile money or bank accounts in local currency through Yellow Card Financial.
Data Mynt, the leading digital asset checkout and payment infrastructure provider for merchants and platforms, has announced a strategic partnership with Yellow Card Financial to expand their services to the African continent initially in Ghana, Kenya, Nigeria, and South Africa.
Yellow Card’s technology allows Data Mynt merchant and platform customers across Africa to settle payments with their mobile money and bank accounts, enabling funds to flow from a shopper’s digital asset wallet into the merchant’s Data Mynt wallet and on to the merchant’s preferred mobile money or bank account seamlessly. Yellow Card enables local payouts in 16 countries, including Kenya, Ghana, Nigeria, Cameroon, South Africa, and more.
Data Mynt’s digital asset checkout and payments infrastructure allows merchants and other businesses across Africa to use a lower-cost, efficient and safer way to transact with 300 million crypto owners, pay suppliers or team anywhere in the world, and settle funds from the digital asset ecosystem directly into their mobile money and bank accounts. With Africa having over 40 different unique currencies, the conversion between different versions of cash can be complicated and expensive.
Data Mynt allows shoppers to pay in one of many digital assets across 8 blockchains, which is automatically converted into a stablecoin without price volatility. In this way, merchants and platforms in Africa who use Data Mynt’s technology side-step some of the biggest hurdles to businesses including declines, volatility, and settlement time.
Yellow Card has been rapidly growing in popularity over the past few years, expanding their services to all corners of Africa while driving and capturing a growing market share of African cryptocurrency users. It has long been said that Africa is a cryptocurrency continent, and Yellow Card’s blossoming user base and community is proof of the excitement surrounding digital assets in this part of the world. In Africa, cryptocurrency is often used like actual currency, and Yellow Card has made the on and off-ramp into the world of crypto easier than ever for Africans. Now, Data Mynt is making the connection between decentralized finance and traditional commerce more seamless than ever.
Data Mynt has been progressively expanding their services to new merchants and territories this year, with platforms and merchants gaining access to Data Mynt’s solutions in 10 countries across 5 continents.
Data Mynt has also added more blockchains and digital assets to the roster of supported currencies, allowing their users to pay with popular blockchains and wallet ecosystems such as Binance Chain, Tron, Etherum Mainnet, Polygon, Solana, and Bitcoin Lightning Network coins such as BTC, ETH, USDC, Tether, MATIC, SOL, DOGE, and BNB, to name a few.
“We have been planning a launch in sub-Saharan Africa and partnering with Yellow Card makes sense given the incredible job they're doing driving rapid adoption of crypto across the continent. Cryptocurrency was always meant to be used like actual money, and nowhere has this been more successful than in Africa. By partnering with Yellow Card, we can rapidly expand our services to Africans and make it leaps and bounds easier to use digital assets when buying and selling goods and services. Data Mynt and Yellow Card are making cryptocurrency easier and better in Africa,” said Alex Christian, Co-Founder of Data Mynt.
“Our vision at Yellow Card is to power the entire crypto industry across the African continent. We want to work with anyone that has a desire to spread access to this technology to anyone. We're excited to partner with Data Mynt to further the reach of this tech,” said Chris Maurice, CEO and co-founder of Yellow Card.
Data Mynt is the leading digital asset payment and checkout infrastructure provider for omnichannel merchants and other businesses. Its suite of solutions offers an easy approach to leveraging digital asset payments domestically and cross border using any blockchain, wallet or asset, free from declines, costs, inefficiencies, and the usual risks of traditional payment methods such as correspondent banking and cards.
The Data Mynt digital asset checkout & payment infrastructure is designed to streamline implementation via a mobile Point of Sale, API, branded web page, and iFrame, while consistently delivering a seamless customer experience.
Yellow Card Financial is the fastest-growing cryptocurrency exchange on the African continent. The company has the largest geographical footprint on the continent, with a presence in 16 countries and growing. To date, Yellow Card has raised a total of $57M in funding, the most by an African cryptocurrency exchange.