Mobile Sim Cards Into Bank Accounts for the Emerging World - NGO Case Study and COVID Response

Publication language
English
Pages
7pp
Date published
05 May 2020
Publisher
Fonbnk
Type
Presentations
Keywords
Cash-based transfers (CBT), Comms, media & information, Technological, COVID-19
Link
https://www.calpnetwork.org/publication/we-turn-mobile-sim-cards-into-bank-accounts-for-the-emerging-world/

Fonbnk LLC (“Fonbnk” or the “Company”) is new distributed finance company, providing borderless banking infrastructure directly to unbanked people around the world using the mobile internet. Anyone with a prepaid mobile SIM card and a verified online identity can now have a global stored value (bank) account for FREE by recharging their existing mobile phones; the analog model would be a global version of Venmo that uses prepaid mobile airtime as its medium of exchange.

This presentation specifically talks about COVID-19 (Crisis) in addition to ongoing case studies on how airtime can be used as a cash equivalent; medium of exchange, store of value and remittance utilising the Company’s platform.