Half the world’s adult population is unbanked: self service bill payment kiosks are the perfect solution.
Sheffield, UK (PRWEB) March 05, 2012
Genkiosk is the most powerful management system for self-service kiosks. The kiosk software controls and manages self-service kiosks for:
Accessing the Internet or information
Browsing and shopping.
To identify the market potential globally, Genkiosk commissioned independent research on self-service kiosks for bill payment worldwide.
The resulting white paper is available for free as a download - and is the reason that Genkiosk is launching a global drive on bill payment via self-service.
As part of the drive, Jed Fraser, CMO of Genkiosk will be speaking at the event in Manila co-hosted by the Bankers Institute of the Philippines (BAIPHIL) and UK Trade & Investment (UKTI) on 13 March 2012.
According to the research, 2.5 billion adults, just over half of the world’s adult population, do not use formal financial services to save or borrow.
The report also revealed that the majority of the unbanked are concentrated in specific geographies: 62% of adults, nearly 2.2 billion, living in Asia, Africa, Latin America and the Middle East are unserved.
For utility and telecoms companies, the ability to penetrate this significant community will mean a greater market share.
Unbanked does not necessarily mean cashless; although primarily found amongst low-income individuals, the term ‘unbanked’ is purely a lack of access to a personal financial service facility.
Over the last few years, there has been a growth in the use of self-service kiosks to plug this gap in bill payment.
How are they being used? Companies develop an estate of accessible self-service kiosks to the public. Customers will then make their regular weekly, monthly, quarterly transactions at the kiosks themselves, which have an integrated and secure cash payment facility.
Receipts can be issued for traceability and robust software allows for transactions to be made securely.
This is especially useful where the population has limited access to the Internet at home.
Internet access – the reality: despite the rapid rise in digital technology, global Internet access remains an uneven story. According to Internet World Stats the average global Internet penetration rate in 2011 was only 30.2%.
That means that on average, just under a third of the world’s population have access to the Internet. It is clear that Africa (11.4%), Asia (23.8%), the Middle East (31.7%), Latin America and the Caribbean (37%) have a significant way to go in order to bridge the global digital divide.
Genkiosk, from GWD Media was first developed to run and manage pay-as-you-go Internet kiosks. It has now grown to cover the full range of self-service applications.
After launching in Europe, it expanded first to the Americas, then the Middle East and beyond, going global via multinational customers and now with direct clients as far afield as Fiji in the South Pacific.
Genkiosk is delivered via the Cloud, maximising service and availability in every region of the world.
VeoVend, the sister of Genkiosk, provides the same monitoring and management services for more traditional vending (snacks, drinks, beverages, retail.) A hardware plug-in, with mobile phone SIM, gives online access to even the most basic vending machine.
GWD Media is headquartered in Sheffield, UK, and operates worldwide.