How Pay4Me Is Supporting Importation in Sub-Saharan Africa
I ran into a friend a few days ago and he was complaining about the excessive currency exchange he pays at the black market. If you have ever bought things in dollars, you would realize that dollars make our local currencies worthless. However, what happens to that woman who wants to import shoes from China? Many Africans are facing challenges to meet the rising rate of dollars, but things have changed a bit for everyone using Pay4Me, an easy-to-use cross-border payments platform.
If you ask any racing driver the three things that he needs to succeed on the track, he may probably tell you a powerful engine, a good set of tires, and good aerodynamics. In our situation, Sub-Saharan Africa (SSA) has become our import and export driver, while foreign currencies have become our route to bring home goods. Since most of the things we need in Africa come from abroad, we don’t have an option but to depend on the exchange rate.
If we must reduce poverty in Africa, we have to improve our living standards, especially among the youth. If we must achieve this, we need to grapple with the proliferation of regional trade agreements, foreign exchange rates, and an increase in our exportation. We have many entrepreneurs and business people who desire to import things into Africa but have issues with financial institutions that can help them with their transactions.
Most recently, we suffered from a COVID-19 pandemic that crippled the world’s financial institutions. Although businesses are gradually growing back, the effect is seen more in developing countries that rely on others for most of their vital needs.
According to World Bank “ African countries’ effective participation in the ever-evolving international trade environment remains central to boosting the region’s growth and development.” Also, the organization has a book titled “Africa in the New Trade Environment: Market Access in Troubled Times” that considers how the African market can be strengthened.
Payment Identification
While Sub-Saharan Africa’s success to scale through in the international market depends on building regional value chains and scaling up our supply capacity, we cannot ignore the impact of online payment and credit card processing.
Speed
Many financial companies can take time to reconcile wire transfers and leave importers overwhelmed with lengthy paperwork. Sometimes, it is often difficult to identify payer and receiver information from their data. Most importers are constrained during an emergency to make payment over the weekend or at night via wire transfer.
The Solution
International payment processors like Pay4Me have changed the narrative of importation by streamlining the process. The payment app offers you transparency and speed and solves the difficulties associated with cash flow.
Why is the Pay4Me App on Demand?
Pay4Me is a borderless payment solution app that offers payment options to people in any part of the world.
Outstanding Features of the Pay4Me App
· Improved User Interface
· Harmonised Payment History
· Real-Time Updates on Transaction Status
· Huge Referral Bonuses
· Cash Back and Instant Withdrawals
The app provides users with both free and paid transaction options, making it easier for people in Africa to conduct financial transactions without worries.
How Does Pay4Me App Work?
· Download the Pay4Me app on the Google Play Store or App Store.
· Register and verify your identity.
· Select your payment type & provide us with payment instructions.
· Pay for the service with a card, bank transfer, or cryptocurrency.
Pay4Me allows various payments abroad with competitive exchange rates. Most financial transactions are completed within 30 minutes of initiation with 24/7 customer support. Payments via Pay4Me can be made to countries in Africa, North America, Europe, and other parts of the world. Over the years, the payment app has helped hundreds of Africans make payments abroad seamlessly.