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What payment methods are accepted by YaYa Wallet?

Last updated on Dec 14, 2024

YaYa Wallet is specifically designed to operate within the Ethiopian financial ecosystem, and as such, it primarily supports transactions in Ethiopian Birr (ETB).

Primary Currency: Ethiopian Birr (ETB)

  • Transaction Currency: All transactions conducted through YaYa Wallet are processed exclusively in Ethiopian Birr. This means that when you send or receive money, pay bills, or make purchases, the amounts are denominated in ETB.

  • Local Compatibility: By focusing on a single currency, YaYa Wallet ensures compatibility with local merchants, banks, and service providers, making it easier for users to transact within Ethiopia.

Live Currency Conversion Feature

  • Real-Time Conversion: While all transactions occur in Ethiopian Birr, YaYa Wallet includes a convenient feature that allows users to view their balances in various foreign currencies, such as USD or EUR. This live conversion feature provides users with a clear understanding of their funds in a familiar context.

  • User-Friendly Interface: The app displays real-time conversion rates, helping users track their balances and understand how much their money is worth in different currencies. This is particularly useful for users who are familiar with foreign currencies and want to monitor their value relative to ETB.

International Remittances

  • Foreign Payments Accepted: YaYa Wallet facilitates international remittances, allowing users to receive money from abroad. When someone sends money to a YaYa Wallet user from another country, the payment can be made in various foreign currencies.

  • Daily Conversion Rates: Upon receiving foreign payments, YaYa Wallet converts the funds into Ethiopian Birr based on the current daily exchange rate. This ensures that users receive the most accurate and fair conversion for their incoming remittances.

  • Final Amount in Birr: All international remittance transactions are ultimately delivered to the end user in Ethiopian Birr. This means that although the initial payment may be made in a foreign currency, the recipient will receive the equivalent amount in ETB.