The platform is expected to be live in Q2 2014, supported by a number of Banks and a leading MNO in Pakistan.
Speaking at an interview with Finance Monthly, the Chairman and CEO of RedCloud Technology Justin Floyd said that “the service is targeting customers who want to use their mobile for a range of financial services including on demand loans, payments, location based shopping, bill payments, medical payments, small business transactions . We call it 'finance on demand’ - an entirely new way in which people of all backgrounds can access finance easily, securely and effectively. Our goal is to invest in technology that democratizes financial services for the Pakistan country."
The technology includes the platform developed by the same team of the world’s most successful mobile money service, M-Pesa.
Mr Floyd continued to say that “We want to ensure that no one is locked out of accessing financial services. This is in line with our mission to offer inclusive; customer focused financial services that socially and economically empower our clients and other stakeholders.”
Iceni Mobile Pakistan also commented “We are proud to team up with RedCloud to bring the next generation of financial products and services to emerging markets”.
The ability to send, receive and store money using their mobile phones has the potential to dramatically improve the lives of the Pakistan people. By leapfrogging more conventional banking models to immediately be able to access safer, more affordable alternatives, this product will reduce the risks and costs of financial transactions, help increase savings and generate employment.
About RedCloud Ventures
RedCloud is fast becoming a leading investor in mobile and web platforms that deliver financial and associated services in emerging markets. RedCloud is currently working on a number of other mobile money platforms planned for release across continents including EMEA, South America, Africa and India.
About Iceni Mobile Pakistan
Iceni Mobile Pakistan is Enterprise Cloud for emerging markets focused on delivering finance on demand to customers from all backgrounds. The platform enables the mobile to become the people’s bank, whereby any form of payment, loan or transaction can be made safely and easily.
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For more information please contact:
Justin Floyd Chairman and CEO
+44 (0) 1799 533200 | +44 (0) 7500 666512
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