India’s biggest bitcoin exchange ZebPay enables “express” transfer

Zebpay, a popular Indian bitcoin exchange with a user base of more than a million today has introduced a new express transfer feature. In the new app release, Android 1.0.98 and iOS 1.0.54, the express transfer feature allows users to get faster credit of funds in their Rs account after making payment to Zebpay.

The Zebpay team said: “We are growing at a rapid speed. This is huge sign of your trust and appreciation for our efforts. With speedingly growing user-base, it becomes our utmost priority to provide you the best features and a seamless bitcoin exchange experience.”

Why express transfer?

During normal transfer, it has become a tedious task to enter payment reference number for users. ZebPay then has to match the reference number shared with those in its bank statement. The transaction is then confirmed and the order is finally processed, which is a time-taking process.

So, users can now use the new express transfer feature and experience the ease of depositing funds to their Rs account. From 24 hours processing time to just 2 hours, express transfer provides each user with a dedicated bank account. It is a process of a few taps, with the goal of getting rid of  support tickets and an extended processing time of 24 hours.

This feature enables ZebPay to process thousands of deposit transactions in a hassle free manner, with users able to get Rs in their account faster in order to buy bitcoins at the rate they want. 

Paying into the express account

Every user is provided with a unique wallet account, similar to a bank account — Account name, number and IFSC code. They can then initiate the transaction to the express account from a verified bank account only via RTGS/NEFT or IMPS. After the order is placed, users are sure to receive funds in their Rs account within 2 hours. When a user is provided with a unique bank account number, ZebPay is able to automatically track the payments made from each account with the user it was created for.

Summarizing, to get the new feature, users must update their Zebpay application to the latest version. Express transfer deposit processing time is up to 2 hours. The minimum per day limit is Rs 21 and maximum per day limit is Rs 10,00,000.  Deposits will be refunded back if the limits are not met. Users need to make payments from their verified bank account only, if not, the amount won’t be credited and will be refunded back.