Secure, affordable and dedicated Android NFC devices issued to local agents, farmers and financial institutions in emerging markets are improving the delivery of a wide range of services including branchless banking, know your customer procedures and food aid distribution, according to a 19-page white paper that is now available to download from the NFC World Knowledge Centre.
‘Emerging markets: How contactless transactions are making a difference,’ produced and sponsored by NFC device maker Famoco, provides insight into how the company’s FX series devices are transforming businesses and communities by improving secure financing and tackling the informal economy.
The paper takes a look at how the devices are proving “critical” for the successful implementation of branchless banking and cashless economies in particular, and goes on to examine how they are being used to digitise food aid distribution in food-insecure communities by providing more choice and support for local merchants and farmers.
“It is precisely in the area of transaction security that Famoco is making major contributions,” the company writes. “Affordable, Android-based FX Series devices are transforming businesses and communities.
“The solution helps local agents handle financial transactions, thus bringing hundreds of thousands of low-income people into the banking system. It is also used by banks and other financial institutions to accurately identify clients, which helps tackle the informal economy in emerging markets.”
This white paper has been produced and sponsored by Famoco and has been approved by the NFC World editorial team. You can download this document free of charge from the NFC World Knowledge Centre.
All copyrights for this article are reserved to NFC World