Business

A Kuwaiti-based mobile digital payments application has launched today as a single, safe and secure platform for all digital monetary solutions throughout the Middle East and Africa.

The Og Money platform, previously referred to as PayIt, currently has 900,000 customers throughout the region. Og Cash is the following development of digital monetary services, exceeding digital payments to supply users with mobile budget capacities, banking, vendor and checkout facilities, virtual shops and complete dealer remedies.

" Og Money offers the banked, under-banked and unbanked with a full suite of mobile and digital financial services. It permits customers to obtain remittances, earnings, and government aids, make acquisitions at shops, provide funds for coupons and gift cards or pay energy expenses and school charges," One Global Founder and CEO Mohammed Al-Rashidi said.

" Og Money acts as a seamless platform to attach consumers, banks, telecommunication operators, foreign exchange companies and sellers, all through the benefit of a cellphone. Expanding access to economic services via digital systems like Og Cash could help boost trade, lower destitution, equip ladies and unlock societal-wide economic benefits."

Practically 470 million individuals and small businesses in the center East and Africa transact specifically in money and they have no protected method to conserve loan. This lack of accessibility to credit avoids individuals from participating in financial tasks that might transform their lives, something that is taken for provided in extra established economic climates.

A September 2016 report by the McKinsey Global Institute evaluating the economic and social effect of digital finance in arising economic situations discovered extensive fostering and use might boost the GDP of all arising economic situations by 6 percent or $3.7 trillion by 2025.

Mr Al-Rashidi founded One Global in 2004 and has actually aided grow Og Loan right into among the leading digital repayments systems available between East. It currently has greater than 900,000 normal customers, thousands of sellers on the platform and manages countless bucks of purchases daily through the app.

" Og Money opens up a world of possibility for individuals without credit centers, while additionally attaching businesses with large, untapped customers in arising markets. That's why we have engineered Og Cash to be one of the most safe and secure, reputable, easy to use and hassle-free one-stop- store application for assisting in digital deals and enhancing the cashless economic climate," stated Mr Al-Rashidi.

One Global is a Microsoft partner and Og Cash has gotten main authorisation and compliance qualification from the Reserve bank of Bahrain, Kuwait Money Residence, Warba Bank in Kuwait, Bank Misr in Egypt, Tadhamon International Islamic Bank in Yemen and lots of various other financial institutions across the region. It's additionally PCI/DSS compliant and maintains the highest safety and security level within the economic services industry.

Og Money consumer is readily available for download from the Apple iTunes Application Store and Google Play Android market. Even more info is offered at www.oneglobal.co

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