Mobile Financial Services are a powerful tool for bringing unbanked and underbanked people into the formal financial sector. With over 2 billion people in the world who still do not have access to formal financial services, mobile phones and other mobile devices are increasingly being used to increase reach and access to low-cost financial services including payments, transfers, insurance, credit and savings. Now established in the majority of emerging economies, Mobile Financial Services is a maturing industry serving new business areas and enabling a wider range of digital finance products. Mobile Financial Services has become a core product offering for many Banks, Saccos, Credit Unions, MNOs, Microfinance organisations and Payment Service Providers (PSPs) who have licenses and business models to deliver these services in a sustainable and scalable manner.
WPITS specializes in MFS technologies and offers innovative products and enables highly robust, scalable and secure solutions to meet diverse industry requirements and ensures best fit solutions are delivered to our customers. We are also actively working on how digital finance can be taken further to build up credit histories and data trails, beyond simply powering remote payments and financial services so our customers will know their customers digitally and offer them products better suited to their needs.