How We Are Bringing Cashless FinTech & Financial Inclusion To Rural Communities
Broadband Infraco and ItakaneICT have partnered to deploy cashless payment platforms to rural and disadvantaged communities.
Broadband Infraco will leverage its infrastructure and backbone capability already deployed in rural communities, while ItakaneICT will use its platforms as mini automated teller machines (ATM) devices to drive cashless money services for rural communities.
“Broadband Infraco’s partnership with ItakaneICT will immediately make technology and services available to enable debit and credit card payments, including self-service-device ATM prepayments, which are instrumental for grant payments and spaza shop transactions,” said Broadband Infraco CEO Andrew Matseke.
“We are concerned about the spread of the Covid-19 pandemic within our country and we believe this partnership will help to contain the movement of rural citizens who have to travel long distances in order to access and transact with cash,” he continued.
Bringing the Smart ATM's to rural and disadvantaged communities promotes economic participation and financial inclusion, along with making life easier for those that live in these areas. For example, people wouldn't have to travel long distances to access facilities like an ATM, nor would they have to withdraw large amounts to keep 'under the mattress' to avoid. The cashless platform also reduces the amount of interaction with physical cash, which currently poses the threat of being infected with the COVID-19 virus.
This strategic partnership also supports the government’s call for citizens to shop for goods from their nearest retail shop.
“This is really a crucial partnership as it reaches to the disadvantaged communities and actively introduces solutions for activating the rural economy. We could not have chosen a better partner as we have known the importance of Broadband Infraco in providing connectivity and fintech solutions to rural communities,” concluded ItakaneICT CEO Nathan Mariemuthu.