We've had a busy June so far with a few exciting announcements and it's only the 10th!
Latin America - PMI Americas, Leaf Global Fintech and DA5
Africa - Cellulant
UK / EU - Pin4
This week we have signed an agreement with Pin4 to enable migrants in the UK and Spain to withdraw cash from the ATM network without requiring a bank account. Pin4 Cash is an innovative solution that delivers cash safely and securely to a mobile device for immediate collection at a participating ATM. The migrant doesn’t need a card or bank account, just a basic mobile phone and access to a Pin4 enabled ATM. The migrant is sent a text message with the details to be input at any Pin4 enabled ATM to withdraw the cash.
There is a perception that migrants only send money home, but in fact, in some cases, like if the migrant is studying abroad, they may need to receive money from their families. In 2020 $4.5 billion was sent to the UK and another $11 billion was sent to Spain.