Paycorp, a leading global payment company, has introduced CryptoExpress, a user-friendly app tailored to streamline the process of converting cryptocurrencies into cash for users in South Africa.
CryptoExpress seamlessly integrates with users’ crypto wallets, facilitating easy withdrawal of cryptocurrency as cash at over 3,000 crypto-enabled Cash Express ATMs across South Africa. These ATMs are operated by ATM Solutions, a subsidiary of Paycorp.
Accessible on both iOS and Android platforms, CryptoExpress boasts cutting-edge encryption technology and robust multi-layer security protocols, guaranteeing users the utmost safety. Additionally, the app incorporates a convenient ATM locator feature, aiding users in effortlessly identifying the nearest Cash Express ATM.
For cash withdrawal, users seamlessly convert their cryptocurrency within the app from any crypto wallet, authorize the transaction in their crypto wallet, and obtain a withdrawal voucher PIN generated by CryptoExpress. This PIN, coupled with their mobile number, is then used at a Cash Express ATM to receive their cash in rand denominations.
CryptoExpress offers cash outs for Bitcoin, Ethereum, USD Coin, and Tether, providing customers with a secure transaction experience. Through real-time on-chain transaction hedging, users enjoy a fixed exchange rate throughout the transaction, unaffected by volatile crypto exchange rates.
Steven Kark, group chief executive officer of Paycorp says: “Paycorp’s goal is to connect more people to their money, and through launching CryptoExpress we are doing just that. Our ATMs are located at formal and informal retailers, forecourts and hospitality locations in both urban and rural areas, making them easily accessible for the majority of South Africans.”
He emphasized, “Paycorp remains committed to advancing financial inclusion in South Africa. The introduction of the CryptoExpress app, facilitating cardless withdrawals from crypto wallets at Cash Express ATMs, coupled with our Smart ATM rollout, which combines drop safe and ATM functions, underscores this unwavering commitment.”