8- Bank­ing the Un­banked

ArabAd - - TRENDS -

Peer-to peer sys­tems and de­cen­tralised cur­ren­cies are elim­i­nat­ing the need for tra­di­tional fi­nan­cial play­ers, and smart busi­nesses are pro­vid­ing ways to cir­cum­vent bank­ing im­per­a­tives al­to­gether. Glob­ally, tele­coms have led the way when it comes to send­ing and re­ceiv­ing pay­ments via ba­sic cell­phones, with the ground­break­ing ‘M-pesa’ spear­head­ing the mo­bile money rev­o­lu­tion.

In the re­gion, tele­com oper­a­tors like Eti­salat, Mobinil and Voda­fone have al­ready rolled out their ver­sions of mo­bile money. But while the lat­ter does not grant ac­cess to card-based ser­vices like Uber, other play­ers are in­tro­duc­ing

Do­pay, Pay­roll So­lu­tion for the Un­banked, Egypt

more prac­ti­cal solutions – pre­paid cards or mo­bile credit for card­based ser­vices. In­no­va­tive tech is spear­head­ing the shift to­wards fi­nan­cial in­clu­sion; Do­pay, de­buted a cloud-based pay­roll plat­form in Egypt, au­tho­ris­ing em­ploy­ers to re­mu­ner­ate their un­banked staff through a Do­pay ac­count linked to a debit card.

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