BitPesa, a two-year old Kenyan firm that aims to undercut traditional remittance providers by transferring cash internationally via the Bitcoin system, is now available for sending payments to and from two more African countries, Nigeria and Uganda.
Users anywhere in the world can now make transfers to users in the two countries. BitPesa’s service is already available in Kenya and Tanzania.
In Nigeria, BitPesa is supported by two local mobile payments firms, Quickteller and Paga, while local operators Airtel and MTN are its partners in Uganda.
Despite starting as a consumer service, the firm has found growth in the business market. “Nearly all (at least two-thirds) of our customers are using BitPesa for business needs,” said CEO and co-founder Elizabeth Rossiello to The Wall Street Journal, “such as salaries, suppliers or operations. There are very few people transacting for basic livelihood needs, such as food or rent.”
The company is seeing double-digit sales growth this year, said Rossiello.
BitPesa’s service in Kenya and Tanzania is supported by Safaricom in the former market, as well as Airtel and Vodacom in the latter. The first payments corridor was between the UK and Kenya.