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SolarNow uses bitcoin startup BitPesa's services for cross-border transactions

SolarNow, a social business that provides high-quality solar energy and financing solutions in East Africa, has begun using Kenya-based bitcoin remittance startup BitPesa’s service in order to handle overseas transactions as well as payments across their branches in Africa.

“The service and response time from the BitPesa team was super fast. I’d get a response in 2-3 hours. The transaction speed is also superior,” Andreas Rosenau, CFO of SolarNow stated in BitPesa blog.

The SolarNow team makes frequent transactions between its base in Uganda and Kenya as well as to overseas. It also makes to and from bank and mobile wallet accounts. Prior to using BitPesa, the team relied on local banks for frequent transfers. While using local banks, the service was poor and took 2-3 days to solve issues or complete a transfer, and payments would often be missed or delayed.

“Service was not comparable to Western standards. Using local banks, suppliers frequently face delayed or missed payments. It should get there the next day, but it can sometimes take up to 4 days,” Andreas added.

These issues were solved when SolarNow team switched to BitPesa for intra-Africa and overseas payments. The transactions were quicker and the team saw significant cost savings as well. BitPesa allows for more cost-effective, faster service by allowing for direct currency-to-currency payments and bulk payouts.

The results obtained after using BitPesa shown that its customer service proved superior with 75% faster response time. The transaction speed was significantly faster, moving from several days to several hours. The standard fees of $18-$20 per transaction were eliminated, thus saving the team significant costs on frequent small transactions.

“The cost is much lower compared to our commercial bank. Transactions are made quickly, and the service is unbeatable,” he stated.

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