This 19-page white paper from Famoco examines the role of secure, affordable and dedicated mobile Android devices in the development of emerging economies. It covers the participation of low-income people in the financial system, how to counter the informal economy and improve the distribution of humanitarian aid.
‘Emerging markets: How contactless transactions are making a difference’ begins by outlining the key benefits of digitization for underprivileged populations and looks in more detail at the adoption of branchless banking, particularly in Africa. It then highlights the importance of know your customer (KYC) procedures for the prevention of fraud and other crimes associated with the informal economy, before showing how these might be enhanced by using a cloud-based identification solution.
The paper also illustrates how smart cards and digitized food vouchers are being used to distribute humanitarian aid more efficiently and help develop local businesses in emerging markets.
Overall it explains how Famoco’s Android-based devices help address major issues in these markets and lays out their benefits in relation to key use-cases.
This document has been produced and sponsored by Famoco and has been approved by the NFC World editorial team.
How to access this report
This 19-page document is available free of charge to NFC World Knowledge Centre members (PDF format, 1.3MB).
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This item is part of the What's New in Payments Knowledge Centre.