Payment platforms that don’t need a bank account or credit card
These mobile payment platforms do not need a bank account or credit card. By Nafisa Akabor
- For the population in rural areas who don’t have an address or paperwork to prove it, FICA becomes impossible.
- Those who are ‘unbanked’ now have more options with financial service providers who are targeting them.
- Here are four mobile payment platforms to use without a bank account or credit card.
You may have heard the term “unbanked” in the last few years, referring to the population that do not have their own bank accounts.
Opening an official bank account comes with the expected paperwork that is the FICA process. But it can be challenging for those who live in rural areas and don’t have official addresses or paperwork to prove it.
That, among other barriers to entry, has given rise to a range of financial services that don’t require a bank account or credit card to make or receive payments.
Here are 4 examples of mobile platforms that don’t need a bank account or credit card to use:
Welcome to Wired to the Web. My name is Nafisa Akabor and I’m a technology journalist covering business and consumer tech for the last 15 years. I’m passionate about start-ups, smartphones, mobile payments, travel tech and electric cars. ✉️ firstname.lastname@example.org