Do you know that more than 70% of the world’s adult population has no bank account!
I did not believe it either as I grew up in USA, and most of the people in the US have bank accounts; but when I first visited Dubai in 2011, I was shocked to discover two different societies: a small (20% of population) high-end luxury society living the dazzling “Dubai” lifestyle; and a second class (80% of the population) society of Millions of low wage non-banked workers and businesses who serviced the glamourous society. What was interesting, the same 80% under-banked pattern was true in Qatar, Saudi, Pakistan as well as India, a country of a few rich people, but a lot more poor people.
What is sad is that no bank wants to service these 80% because they make very little money and are very expensive to educate, risky, hard to on-board, and tough to service and maintain. It is much easier and more profitable to bank rich people and large established corporations.
In 2015, we started the Nexxo concept.
Nexxo leverages blockchain technology to lower the cost of banking and financial services to hundreds of Millions of under-serviced small businesses and under-banked consumers. The company offers some of the following solutions.
- An International Bank Account Number, with a linked MasterCard which bank unbanked businesses and consumers
- Point of Sale devices that accept VISA, MasterCard, China Union Pay, Paytm, AliPay, Wechat and other means of electronic payments; as well as e-commerce and electronic billing for service based small businesses that don’t sell physical products.
- Collateralized Loans and other credit products to non-banked businesses and their employees
We have proven our business model in two countries in the Middle East: Qatar and UAE, as we are now servicing more than 15,000 businesses and 329,000 consumers.
We have built a strong business model with revenues and profits, and it is now time for us to expand our business into larger markets such as Pakistan, India, Iraq, Egypt, Indonesia, Malaysia and more.
Sincerely,
Nébil Ben Aissa
CEO of NEXXO™
Do follow us on our social media platforms and join our Telegram channel to be updated with the latest information.
