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AMA mWallet developed for LATAM, aimed towards providing a bancarization instrument for business looking to target this specific opportunity in the region

Juan Carlos Riveroll
Oct 12, 2017

Half of the people living in LATAM don't have access to a financial instrument that allows them to save money, ask for credit o even own a debit card. Mobile phone technology is the answer to giving these people access to what they would normally find to be an inconvenience, understanding that to them a bank account is more a problem than a solution. Almos 8 out of 10 people in the region have a mobile phone and the percentage of smart phones is growing by day.

www.transamovil.com

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Conversation (12)

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If people don't use banks or credit, what do they do with their money? 

Oct 5, 3:42PM EDT0

Do you plan to rach beyond LATAM or will your focus always remain there?

Sep 28, 11:33AM EDT1

We think it's best to start in LATAM, but we are open to new markets. 

Sep 28, 11:40AM EDT0

Why do Half of the people living in LATAM don't have access to a financial instrument that allows them to save money? how did you comeup with that percentage? 

Sep 13, 1:20PM EDT1

Hello Hecter,

This is an estimate. We've made our calculations using data from the World Bank and CAF.  They all have access, but it turns into something expensive or time consuming for them. Thus traducing into entry barriers or costs.

Many people still perceive their wages in cash and store this money under their mattresses.

Thanks for the question,

Juan

Sep 13, 2:44PM EDT1

Do you think that cryptocurrency can help with making financial instruments accesible to people in LATAM?

Sep 9, 2:04PM EDT1

Hello Ricardo,

Certainly. Cryptocurrency is the future of currencies, no doubt. The problem is how to give ccess to people to this technology or how to empower people with it. 

I'll give better answers on my scheduled AMA.Regards,

Juan

Sep 11, 1:18PM EDT0

Hi Juan. May you achieve great success in your endeavor. Considering the fact that data security of customer information is paramount in digital wallets, what advanced decrypting technologies is transa built on?

Sep 9, 1:39PM EDT0

Hello Shilpa,

All I can tell you for now is that we are working on ISO27000 certification. As for the decryting tech I'll be happy to answer on 10/12/2017.

Regards,

Juan

Sep 11, 1:21PM EDT0

Thanks for your best wishes

Sep 11, 1:22PM EDT0

Why do you think there isn't any options available for LATAM citizens to recieve credit or debit cards? How will your company go about changing the mindset of these citizens?

Sep 9, 1:09PM EDT0

Hello Brandon,

Options are available, but they are expensive. Our target user generally has more important issues to resolve than owning a bank account, debit card or credit card. Citizens already have the mindset, we don't believe that it has to be changed. Rather, what we have to do is provide a solution that meets their economic and time restrictrions.

Thank you for the question, Regards,

Juan

Sep 11, 1:25PM EDT0
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