There are 2 billion people worldwide who have jobs but no bank account. This means they are cut off from even the most basic financial services that they take for granted. Companies that employ these people feel this acutely; cash handling costs for managing both incoming cash flow from their unbanked customers as well as the wages of their unbanked employees could take up as much as 25% of their revenue.
Banking the unbanked makes good business sense.
dopay is committed to transforming the lives of these ‘unbanked’ people and their employers by breaking the cash cycle through a payroll and cash management service for companies, and a full mobile-banking experience for the unbanked.
Already dubbed by the financial press as ‘bank of the future’, dopay is set to roll out its simple, low cost and mobile-based financial eco-system in Egypt, Ghana and India in 2015.
The ambition is to have launched in 10 countries by the end of 2016.