Research in the financial and banking sector has revealed that the mass retail banking market around the world is still surrounded by impediments which prevent many unbanked people from opening a bank account or finding a secure and efficient payment mechanism. In order to address these impediments and challenges, the year 2004 brought WIZZIT on the scene.
WIZZIT, operating under a banking license obtained through the South African Bank of Athens Limited was established in order to provide social upliftment by empowering poorer people to interact financially, through making financial services widely accessible. This is done by offering a transactional bank account primarily aimed at the unbanked and under banked markets utilising mobile phone technology.
Under this WIZZIT innovation, mobile phones are used to make real-time person to person payments, transfers and pre-paid purchases as well as a branded Master Card debit card which is used to make payments in the formal retail environment.
From the above, its clear to see that this fast growing financial institution is committed to changing the world by providing banking opportunities to the 4 billion unbanked and under-banked population through cell phone technology, leading to a reduction of poverty and the creation of economically empowered citizens.
WIZZIT can be contacted on 0861949948.