The new solution will save costs associated with Know Your Customer requirements and improve the customer experience by allowing customers and merchants to set up an account without friction and verify their government-issued IDs using a computer or an Android smartphone camera.
With the MyMoneyMobile app, a user registers using their mobile phone number or email address, then fill in their mobile money operator details and uses Netverify to build part of their KYC profile. As a result, money transfers, shopping and paying bills can happen as quickly as sending a text message. Additionally, people can use the app to find nearby merchants to deposit, withdraw cash, or pay using any means of payments they want.
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