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Yellow Launches Bitcoin Voucher Service in Egypt

In general, Egypt is a tough market, due to high computer illiteracy, a poor telecoms infrastructure, and weakened economic conditions.
19.05.15 | Source: The Cointelegraph

Bitcoin payments startup Yellow has launched a bitcoin voucher service in Egypt, as an alternative solution for “costly and inconvenient” payment platforms in the Middle East.
Bitcoin voucher service

Yellow’s voucher service allows its customers to purchase vouchers as “tickets” on eventtus.com with credit cards (Visa, MasterCard), PayFort (an online payment gateway in the Middle East) and Vodafone point-of-sale machines.

As the Egypt’s credit card penetration rate is below 2% and only 10% of the country’s population holds bank accounts, bitcoin vouchers may not be enough to increase the liquidity of bitcoin in the nation. However, it is the first official company in the MENA region (Middle East and North Africa) to allow customers in Egypt to purchase BTC with the Egyptian Pound.

continue reading at The Cointelegraph
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