As we have mentioned before, our CHANGEiT Wallet mobile technology is being implemented in different areas of the world that have a low rate of banking with the aim of boosting financial inclusion. But how can an app improve the management of individual economies to such an important degree? Let’s see it in this week’s post!
The importance of boosting financial inclusion
In the first place, it is important to make clear the great importance of boosting financial inclusion in developing countries. This is essential to promote economic and social growth in areas such as Latin America, where in many countries half of the population or more does not even have a bank account.
And to achieve this boost, both regulation and education are very important, key factors in the development of any country. Regulation through laws such as the Fintech Law in Mexico, which facilitates innovation and the creation of financial technology companies. And education through programs that raise awareness about the use and advantages of technology.
How an app like CHANGEiT Wallet boosts financial inclusion
Thus, we know that a large percentage of the population in many developing countries do not have any traditional financial services such as a bank account or a debit or credit card. These people, logically, receive their income in cash and must, therefore, carry out all their economic transactions through this same means.
How to facilitate these people to perform virtual transactions, withdraw money at ATMs or pay cashless? Through an e-wallet created for that purpose. This is the case of the CHANGEiT Wallet technology, which combines the necessary tools so that a person with a smartphone and cash can enter it into the system and start operating in a cashless way.
Moreover, CHANGEiT Wallet technology can be marketed under any brand and include the most appropriate tools for each country. Currently it has already been exported to 5 countries, get in touch with us to start a joint project and help to promote financial inclusion through mobile technology.