SendSpend Empowers Financial Inclusion and Drives Sustainable Development with its Mobile Payment System.
Thursday 1 June, 2023London, UK - SendSpend, a leading London-based Fintech company, is making waves in the financial world by promoting financial inclusion and driving sustainable development through its innovative mobile-only alternative payment system. With a strong focus on interoperability, scalability, and security, SendSpend is revolutionizing digital payments and remittances, eliminating the need for a bank account or payment card. By offering a reliable alternative to traditional international money transfers and costly card schemes like Mastercard and Visa, SendSpend is transforming the way people make online payments and access financial services.
What sets SendSpend apart is its ground-breaking smartphone-operated Agency Banking, a world-first initiative that takes financial inclusion to new heights. This cutting-edge feature enables financial services to be provided from a smartphone, even in the most remote areas. Licensed as an Electronic Money Institution by the Financial Conduct Authority in the UK, SendSpend ensures regulatory compliance and operates with robust security measures, including e-KYC, AML screening, transaction monitoring, and GPS tracking.
But SendSpend's impact goes beyond financial inclusion. The company is committed to supporting the achievement of the United Nations' Sustainable Development Goals (SDGs) by implementing policies and practices that promote sustainable development and address social and economic disparities. By targeting previously unbanked or underbanked individuals, such as rural communities, women, and those in developing countries, SendSpend's mobile-only approach provides a convenient and instant alternative payment system, allowing these groups to participate in online purchasing, international money transfers, and more.
Aligned with multiple SDGs, SendSpend's mission encompasses poverty reduction (SDG 1), gender equality (SDG 5), improved health and well-being (SDG 3), decent work and economic growth (SDG 8), reduced inequalities (SDG 10), peace, justice, and strong institutions (SDG 16), and zero hunger (SDG 2). Furthermore, SendSpend's technology and platform contribute to sustainable industrialization and infrastructure development (SDG 9) while promoting access to science, technology, and innovation (SDG 17).
SendSpend's easy interoperability adds value to financial services and functionality for various entities, including government agencies, private companies, NGOs, charities, and social welfare organizations. Through strategic partnerships, SendSpend facilitates the dispersal of salaries, pensions, welfare payments, and funds for essential services like insurance, education, and farming. One such collaboration includes one with the National Payments Corporation of India (NPCI) for cross-border remittance and payment services between the UK and India, reducing the time and cost of sending money home to support families.
In conclusion, SendSpend is at the forefront of inclusive payment systems, providing financial services to individuals and businesses globally who are unbanked or underbanked. By enabling easy and affordable participation in the digital economy, SendSpend aligns its primary objective with the UN's Sustainable Development Goals, contributing to a more inclusive and sustainable future.
To learn more about SendSpend, visit www.sendspend.com or download the app from the App Store or Google Play. https://play.google.com/store/apps/details?id=com.sendspend.ssAbout SendSpend:
SendSpend is a leading London-based fintech company promoting financial inclusion through its mobile-only, interoperable Alternative Payment System. The SendSpend Mobile Payment System links businesses and individuals around the world, and comprises a multi-currency banking ledger and digital e-wallet, a payment gateway, an agency banking app, and a set of corporate APIs enabling digital mobile payments, migrant remittances, and cross-border e-commerce, all without the need for a bank account or payment card. Additionally, the system serves as an alternative to SWIFT for international payments. The company is registered as an Electronic Money Institution (EMI) in the UK and holds a license from the Financial Conduct Authority (FCA). For further information, please visit www.sendspend.com
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