Ingenico Group, a leader in seamless payment says it has reached a fifty-thousand terminals landmark serving the unbanked population across Africa including Nigeria.
Ingenico says that its terminals equipped with biometric authentication features is in use in several African countries like Nigeria, Malawi, Democratic Republic of Congo, Tanzania, Uganda and Zambia.
“This milestone is taking us to the forefront of the Financial Inclusion market in Africa where three quarter of the population is still unbanked,” Luciano Cavazzana, Eastern Europe & Africa Managing Director for Ingenico Group says.
“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, an 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.
Ingenico says the programme continues to expand in several African countries such as Nigeria, Malawi, Democratic Republic of Congo, Tanzania, Uganda and Zambia.
“Building a secure financial ecosystem for the unbanked population is an enormous challenge,” Mike Gama-Lobo, Vice President and Regional Director Africa for FINCA adds.
“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, the company says.