The company claims the service will save users millions in
the unbanked region.
Not exact matches
The report notes that the largest opportunities are in
regions with a large
unbanked population that is young and likely to embrace mobile banking.
«We see Southeast Asia as a
region with huge growth potential for WeLab due to its high percentage of
unbanked population (73 % out of 600 million) which makes it impossible to borrow and its high mobile penetration rate (133 %),» said Loong.
The Asia - Pacific
region has a high - level of
unbanked people, with many of them women.
While
regions like Africa feature a large proportion of these
unbanked, their numbers can be found in even the most industrialized nations in the West.
Many
regions of Africa are
unbanked, and thereby without access to payments services like Visa or PayPal.
Since the early days of bitcoin, many believed that the digital currency would end up banking the
unbanked in developing
regions such as Africa.
In 2014, two thirds of Africa's Sub-Saharan population was
unbanked; similar disquieting statistics represent the Southeast Asian
region.