Ingenico has reached a strategic 50 000 terminals landmark to serve the unbanked population and becomes the a financial inclusion-enabler in Africa.
“This milestone is taking us to the forefront of the Financial Inclusion market in Africa where three quarter of the population is still unbanked,” says Luciano Cavazzana, Eastern Europe & Africa MD for Ingenico Group. “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 enrolment 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,” says Mike Gama-Lobo, vice-president and regional director: Africa for FINCA.”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.”
The first Ingenico smart terminal for financial inclusion was introduced in Africa in 2008. Seven years later, Ingenico Group bolsters its position through an extended offering to support branchless banking, micro-finance, over-the-counter (OTC) services and mobile money beyond the traditional cards payments.