International money remittance and digital banking provider, Hello Paisa, has been included in the inaugural Inclusive Fintech 50 club. MetLife Foundation and Visa, with partners Accion and IFC, launched a global competition to elevate fintechs driving financial and also assist them with attracting capital and resources to benefit the 3 billion financially underserved people globally.
Johannesburg, South Africa, June 18, 2019 – In an achievement for not only home-grown organization Hello Paisa to be proud of, but indeed for all South Africans to celebrate, the company was selected from over 400 hopeful applicants and placed among the globe’s top 50 fintechs. The judging panel consisted of industry experts across venture capital, banking, fintech and other sectors. This win is particularly significant to the company and is a vindication of their commitment to driving financial inclusion.
Each of the 50 winners named were selected based on their achievements and impact which demonstrates the power that financial inclusion has in the global effort to expand access, usage and quality of financial services, across both advanced and emerging markets.
Based on their local insights, Hello Paisa identified that the cost of remitting funds from South Africa was too expensive, takes too long and – in some cases – there were no legal means available. Hello Paisa stepped up to lead the charge in finding a practical solution. Making use of industry-leading technology, as well as partnering with the globe’s most reputable partners, the company was successful in their lobbying efforts with regulators. The result was the company’s popular platform, geared towards driving down costs of international remittance and creating a means through which users can safely and legally send funds around the world.
In May 2019, Hello Paisa launched its digital banking offering in partnership with Sasfin Bank Limited to service yet another need of its loyal customers.
According to Ahmed Cassim, the Managing Director of Hello Paisa, “For the past four years, Hello Paisa has thrived on the principle of doing well, and doing good. Fundamentally, we are a community company focused on empowering people, and creating a culture of social enterprise utilising technology as a catalyst. We have changed lives, through offering our customers a SIM card to call their families, remittance solutions to send money home, and now we are embarking on the next chapter of offering a bank account to keep their money safe and a debit card to transact – anywhere and everywhere.”
The complete list of winners can be found at www.inclusivefintech50.com/winners.