SureRemit is a Nigeria-based non-monetary remittance service provider using a crypto token to enable people from around the world to send shopping vouchers, mobile air time top-ups, pay bills, and donate to charities in Nigeria, Kenya, and Rwanda. Non-monetary remittances reduce the cost of international transfers to Africa from the diaspora.
The Central Bank of Nigeria has suspended international money transfers to mobile wallets in Nigeria. This is because of a new regulation that only allows US dollar payout for remittances in the country. The suspension will improve visibility of US dollar remittance flows.
Globally, SureRemit is available in over 40 countries. In Africa, the service works with popular merchants and partners such as Jumia, Spar, HealPlus, Game, etc.
Using SureRemit, recipients don’t have to travel and wait in long lines to receive an expensive wire transfer. All they need is a mobile phone or email address.
The benefits of using SureRemit include the following:
- It is cheaper than money transfers.
- By sending a non-monetary remittance, you are sure that the value you sent to your recipient will be used as intended.
- Recipients can use the SureRemit App to send in-app support requests called SureRequest to senders and receive support instantly.
How SureRemit Works
How to Sign-up
To use SureRemit, you must download the app for Android and iOS. Then you proceed to create your account. You need to provide your personal details as well as phone number and email address. The sign up process takes a few minutes.
The RMT Token
SureRemit uses Stellar Blockchain technology and the Remit Token (RMT token) to facilitate remittances.
If you’re a non-crypto user, we won’t bother you with all the details. It’s all done in the backend of our systems! The token is used to facilitate cross border payments/voucher sending in our ecosystem.
How to Pay for SureRemit Transfers
Your account comes with a crypto wallet address. You can purchase the RMT token in the SureRemit app with your debit/credit card, or PayPal. After you have funded the wallet, you can use the RMT to purchase vouchers, pay bills, send airtime, and make charitable donations.
How to Pay Bills
You can support your loved ones by using SureRemit to pay bills. On the home screen of the app, click ‘Pay Bills’. Select the recipient’s country, category, and merchant. Then choose or enter the amount that you want to send. The bill will be paid instantly.
How to Send Vouchers
With SureRemit, you are able to send digital vouchers for groceries, medicine, clothing, school supplies, etc. On the SureRemit app home screen, click ‘Send Voucher’. Select the recipient country, category, and the merchant. Enter the value that you want to send. Your recipient will receive the redeemable voucher instantly.
How to Send Airtime Top-up
On the home screen, click ‘Send Airtime’. Choose the recipient’s country and enter the phone number. Enter the amount you want to send and finalise payment. The recipient receives the airtime and confirmation in minutes.
How to Donate
On the home screen, click ‘Donate’. Select the country and charity. Enter the amount you want to donate, finalise payment, review the summary, and complete the donation. The donation is sent immediately to the cause.
When sending vouchers or paying for bills using SureRemit, you pay up to 0%-2% fee. The main source of revenue for SureRemit are merchants and partners, who pay a percentage on each token transaction and then redeem the tokens for cash from SureRemit.
Sending cash can be an annoying process. The bureaucracy, paperwork, long transfer & pick up times, it’s all just a pain, many things can go wrong. Also, let’s not forget about the punitively high fees and the risk involved. We know how it feels, and we said: no more! That’s when we launched SureRemit.
According to the World Bank, Sub-Saharan Africa pays the 9.3 percent on average per $200, which is more than any other region in the world. With SureRemit, you are able to instantly provide for the needs of your loved ones by buying groceries, paying for tuition, utility bills and buy airtime top-up without incurring the high fees charged by some international money transfer services.