The first step in the strategy is Boloros retail acceptance application of MobiCashs digital money. This partnership allows small scale retail businesses to offer handset agnostic, merchant initiated payments using MobiCash multi-factor biometric authentication together with Boloros PIN authentication that uses Network Initiated USSD messaging. First roll-outs are expected in Q2 2016.
MobiCash, a cashless financial platform headquartered in Hong Kong, offers mobile banking services in 13 African countries including Rwanda, Uganda, Burundi, Kenya, Ghana, Tanzania, Cameroon, DRC, Malawi, Zambia, Zimbabwe, Botswana and South Africa. MobiCash solution uses multi-factor authentication mechanisms such as: fingerprint, Near Field Communication (NFC) Cards and Voice biometric technology prior to authorizing any funds transfer.
Boloro is a mobile payments network offering consumers the ability to pay for goods and services using any kind of mobile phone and any source of funds. Boloro replaces cash and offers financial services to the many unbanked in emerging markets.
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