Ingenico Group Deploys Terminals to Boost Financial Inclusion in Africa
Sub-saharan Africa, January, 18 2016 -
Ingenico Group, the global leader in seamless payment, has declared that it has reached a strategic fifty-thousand terminals landmark to serve the unbanked population and becomes the acclaimed financial inclusion-enabler in Africa, reports Footprint to Africa.
Luciano Cavazzana, Eastern Europe & Africa Managing Director for Ingenico Group commented: “This milestone is taking us to the forefront of the financial inclusion market in Africa where three quarter of the population is still unbanked.
“Through our technology, we address local challenges and seek to empower our end-customers to increase account ownership and broaden access to financial services. We are very pleased to celebrate this important landmark with FINCA.”
FINCA, a leading international Micro-finance Institution, is Ingenico Group’s long-term customer in the Micro-finance sector.
To prevent fraud, FINCA equipped its agents with Ingenico biometric terminals to capture the applicants’ fingerprints during the enrollment and validate their identities through their finger scan prior to the loan disbursement.
This programme has been in continuous expansion in several African countries such as Malawi, Nigeria, Democratic Republic of Congo, Tanzania, Uganda and Zambia.
“Building a secure financial ecosystem for the un(der)banked population is an enormous challenge.
“Ingenico Group has proven its ability to adapt to local constraints through a single terminal. The Ingenico smart terminals are invaluable for our staff to enroll customers, offer micro-loans and help them keep their finances safe,” Mike Gama-Lobo, Vice President and Regional Director Africa for FINCA explained.
The first Ingenico smart terminal for Financial Inclusion was introduced in Africa in 2008, Footprint to Africa learnt that seven years later, Ingenico Group improved its position through an extended offering to support Branchless Banking, Micro-finance, Over-the-Counter (OTC) services and Mobile Money past the traditional cards payments.