October 4, 2017
The global economy is inaccessible for a third of the world's population. These people, living in less economically developed countries are not offered the concept of "banking services." There are a number of reasons for this: their physical distance from banks, the high cost of services, even the basic lack of a bank card, all of which limit their financial mobility. Many of these people are very poor: their incomes are no more than $30-50 a month. It is therefore important to note that electronic transactions are cheap, saving almost 90% compared to traditional payments. In addition, this opportunity enables a reduction in the number of people dependent on state benefits and fights against fraud, making payments more transparent, as well as involving women in the process. All of these factors affect both the financial security of the state and the quality of its citizens’ lives. Currently, mainstream financial institutions from leading economies are unable to organize widescale access to electronic payment systems.
It's time for new technologies.
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