The Problem

• Lack of Access to Banking Services: The unbanked population faces significant challenges in accessing banking services, including limited physical infrastructure, distance to banking institutions, and lack of necessary identification documents.
• Financial Exclusion: Without access to banking services, individuals are excluded from participating in formal financial systems, limiting their ability to save money, receive payments electronically, access credit, and conduct secure financial transactions.
• Cash Dependence: The unbanked population heavily relies on cash-based transactions, exposing them to risks such as theft, loss, and limited financial transparency.

The Solution

• Mobile-Based Banking: Nearpays leverages mobile technology to provide banking services to the unbanked population. Individuals can open virtual accounts using their mobile devices, allowing them to receive payments, make transactions, and access basic financial services.
• Mobile Wallets: Nearpays offers mobile wallet solutions, allowing the unbanked population to store and manage their funds digitally. This enables secure and convenient transactions, reducing the risks associated with carrying cash.
• Expanded Access to Services: Nearpays facilitates access to a wide range of financial services, including money transfers, and mobile top-ups, enabling the unbanked population to meet their financial needs conveniently.