No monthly spending limits with Changera Virtual Cards
No monthly spending limits with Changera's Virtual Cards
With the introduction of Virtual cards, Changera, a cross-border payment platform, has broadened its financial services by enabling users to conduct online dollar transactions without exceeding their monthly spending limit.
With the Virtual Card, Changera is bringing its more diffused features to a broader audience. These features include borderless money transfer, peer-to-peer payments, and diaspora remittances, as well as airtime, data, and utility purchases. Aiming to close the cross-border payment gap that exists when funds are transferred between African countries and the rest of the world, Changera, which will launch as a flagship product of Bitmama Inc. on May 20, 2021, will be the company's first product.
As reported by Nigeria's Central Bank in a recent report, the rate of foreign currency inflows through the banking system by Nigerians living abroad decreased by 24 percent from the same period the previous year, reaching $5.6 billion in the same period last year. It is expected that the value of global cross-border payments in the retail sector will increase as well, with the total expected value rising from $1.95 trillion in 2016 to $3.56 trillion in 2022. These increases highlight the importance of secure payment solutions that are equally adaptable to the needs of the hundreds of thousands or millions of users who conduct online payment transactions on a daily basis.
People who make use of Changera can be divided into two categories: those who conduct personal transactions and those who conduct business transactions. Businesses have access to a more robust suite of features, such as multi-currency payment options for their remote workers or payment options in their preferred home-country currencies.
Changera employs a rigorous verification process that weeds out and terminates fraudulent transactions in order to ensure that users' money is safe when moving money between countries in a seamless manner. Changera's overall goal is to make it possible for users to conduct online transactions by simplifying the global money transfer process while also ensuring the security of the funds in their possession.
"Our virtual card works exactly like a regular card, except that it does not restrict users to specific platforms and grants them unlimited access to their funds," says Victor Anunobi, Changera's Product Manager, in response to the new rollout. With an increase in cross-border payments and diaspora remittances in recent years, as well as the ratification of the new African Continental Free Trade Agreement (AfCFTA) by the majority of African countries, the introduction of the Changera Virtual Cards makes sense. Furthermore, users of Changera virtual cards are protected from financial risk because the virtual card is not linked to the main account and users can only spend the funds that have been preloaded onto their Changera virtual cards.
What exactly is the Changera Virtual Card, and how does it function?
Changera is currently available on the iOS and Android operating systems from Apple and Google, respectively. Downloading the Changera app from the App Store or Google Play Store will allow you to quickly and easily access Changera Virtual Cards.
When conducting online transactions or making cross-border payments, the app is intended to provide users with a frictionless experience. Users can then navigate to the 'Cards' section of the mobile app and click on the "Get Card" button once the app has been downloaded. Once all of the necessary information, such as the preferred currency, card type, payment method, and wallet, have been entered and the "pay" button has been selected, the Virtual card is created in seconds.
Aside from the unlimited transactions and multi-platform acceptance, users can also create separate cards for different services such as Amazon Web Services, Netflix, Facebook Google Ads, Google in-app and store purchases, and Skype, among others.
About Changera
Changera is the primary payment product offered by Bitmama Inc. As a blockchain-based company, Bitmama is a leader in the provision of cryptocurrency payment solutions to African and international customers. Changera is a blockchain-based platform that allows users to securely send and receive money from anywhere in the world using their smartphones. The app is currently being used by thousands of users across the iOS and Android platforms.
Users can easily download the app from the Google Playstore or the Apple App Store and use it to create virtual cards that can be used for online purchases.
