US security and identity manager WiseKey has
introduced WisePay, a mobile payment system for unbanked
populations.
WisePay offers a platform to enable anyone
with a mobile phone to carry out transactions, even if they don’t
have a bank account.
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The system, based on WiseKey technology,
allows financial institutions, mobile operators, e-commerce and
catalogue retailers to provide customers with universally trusted
services through the most common and secure channels.
“It is estimated that only one billion people
out of the world’s nearly five billion mobile device users have
bank accounts, but these people need a way of sending money to
peers,” said Carlos Moreira, CEO of WiseKey.
“In addition to the ‘unbanked’, there are the
‘underbanked’—those who have inaccessible bank accounts, as
branches and ATMs are rare in many emerging economies.”
In 2008 WiseKey and eight Clinton Global
Initiative (CGI) members committed to bringing mobile banking to
millions of people in 2008 and WisePay is the result.
Other members of the CGI include the GSMA
Development Fund, a grant from the Bill and Melinda Gates
Foundation, Western Union, MPower and Ventures and Women’s World
Banking.
