• FOUNDING YEAR:
    LOCATION:
    Egypt
    REGION:
    Last Update:
    27 Jun, 2019

Description

FOCUS

PRODUCTS & SERVICES:
CIT VERiCASH is the mobile money payment division of CIT Global, an international provider of eCommerce /mCommerce software solutions and services. CIT VERiCASH offers a platform for development of collaborative business models: Multi-Wallet Programs (provides interoperable multi -wallet propositions integrating with existing 3rd party wallets), Value Added Services (access to Value Added Services from unlimited stakeholders on any wallet program, with full flexibility to manage cross business rules), Agency Management (comprehensive management system, enabling Agency business models across various wallet programs and service providers; extending to full Agency Banking), and Wide Connectivity (configurable software to integrate with various payment networks and 3rd party systems).
MAIN CLIENTS:
24 Nigerian banks and 15 mobile money operators, 170 banks and retailers across Africa and Middle East, and more.
PRIMARY PROBLEM SOLVED:
The platform allows to bring together and orchestrate multiple wallet programs for one brand, white labeled or cobranded with one or more players in market. Making all issued programs interoperable, it allows businesses to drive value from open loop collaborative ecosystem, and, as a result, to boost financial return from a network effect.

PEOPLE

FOUNDERS:
Ashraf Zaki
NUMBER OF EMPLOYEES:
11-50

TRACTION

Insufficient information for accurate analysis

MOMENTUM

FUNDED:
YES

LATEST RESEARCH