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Digital currency payment company, Triple-A, and Paycorp, a global payment platform have entered into a partnership that will allow users of the CryptoExpress app in South Africa, which is powered by Paycorp, to make cash withdrawals at ATMs.
According to a statement sent to Technext on Monday, the collaboration will allow South African users of the Paycorp-powered CryptoExpress app to convert those crypto assets and withdraw South African Rand at over 3,000 ATMs.
Triple-A, is a digital currency payment service which enables businesses to pay and get paid in both traditional and digital currencies, volatility-free.
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Paycorp, on the other hand, is a global payments company headquartered in South Africa. It is a payments provider that offers a wide range of payment products and services, including cash management, transaction processing, value-added services and business funding. Basically, Paycorp’s goal is to connect more people to their money and more businesses to their customers.
The Triple-A and Paycorp partnership
By offering digital currency holders a simple and practical way to convert their digital currencies and withdraw them in South African Rands, the partnership heralds a new era in integrating digital assets into day-to-day transactions and promoting financial inclusion.
With more than two decades of experience in payment solutions, Paycorp is renowned for its ATM network management and transaction processing solutions and operates South Africa’s largest independent ATM network, comprising Paycorp’s “Cash Express” ATMs strategically positioned in residential, commercial, and retail areas nationwide.
The CryptoExpress app leverages a portion of Paycorp’s pre-existing network of Cash Express ATMs, which also support standard cash withdrawals and a range of digital wallet and voucher cash-outs. This is a clear indication of how the financial landscape is evolving to offer solutions where traditional banking and emerging payment methods converge.
With Triple-A as its processing partner, the CryptoExpress app facilitates cash-outs from Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT) funds and is available for free download on iOS and Android app stores.
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After successful registration and onboarding, CryptoExpress app users simply need to authorize the transaction in their digital currency wallet to receive a withdrawal voucher PIN generated by the app and insert their mobile number and the withdrawal PIN at a Cash Express ATM.
Comments from stakeholders
Steven Kark, CEO of Paycorp while passing a remark on the development said the mission at Paycorp is to enhance cash accessibility, and the collaboration is a testament to that commitment.
“By joining forces with Triple-A, a trusted leader in the digital currency payments space, we are providing a new and convenient way for crypto holders in South Africa to access and make use of their digital assets.” Steven Kark added.
Founder and CEO of Triple-A, Eric Barbier said his company is thrilled to partner with Paycorp, a powerhouse in the payments industry.
“Triple-A’s mission of bridging the gap between digital and traditional currencies perfectly aligns with Paycorp’s dedication to connecting more people to their money. Together, we are expanding the ways people interact with their digital currencies.”
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