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FINCA partners with MobiPay to transform the convenience and cost of their microfinance lending operations
February 1, 2012
Tbilisi, Georgia
FINCA Georgia and OpenRevolution LLC have signed an agreement that will enable FINCA customers to instantly receive and repay FINCA loans on their mobile phones using MobiPay. MobiPay is the innovative mobile payment network built and operated by OpenRevolution.
“We are very pleased to partner with a leading global institution like FINCA and
extend this attractive service to their Georgian customers”, said Allen Gilstrap, CEO of OpenRevolution. “MobiPay provides customers with a convenient way to instantly receive and repay loans, pay bills, transfer money, top up mobile airtime, perform cash services at over 300 Cash Agents nationwide and make purchases at over 2,700 merchant locations across Georgia”.
In addition to FINCA’s use of MobiPay as a secure channel to disburse loans and collect loan payments, FINCA customers will also be able to use MobiPay to conveniently purchase the goods and services they use in their small businesses. This cashless transformation of the customer experience using mobile phones will save FINCA and its clients time and resources while improving operations. Further details on how FINCA customers will be able to use MobiPay will be announced next month.
“We are pleased to be a market leader in providing FINCA customers with the newest way to improve their access to finance with MobiPay services”, said Vusal Verdiyev, CEO FINCA Georgia.
OpenRevolution’s launch of MobiPay in Georgia, serves as a reference implementation. The company is now in the process of expanding the MobiPay network across Eurasia.
“The possibility of building on a successful partnership in Georgia with cooperation across multiple markets is one of the great benefits of working together”, said Conan French, head of Corporate Development at OpenRevolution.
About FINCA Georgia:
JSC MFO FINCA Georgia is a subsidiary company of FINCA Microfinance Cooperatief U.A., with such shareholders on board, as FINCA International, USA, International Financial Corporation (IFC, World Bank Group)- USA, KfW Bankengruppe, the German development bank, FMO, the Netherlands development bank, responsAbility Global Microfinance Fund, an investment fund advised by the Zurich-based asset manager responsAbility Social Investments AG, and Triple Jump, a Netherlands-based microfinance investment manager.
FINCA’s structure sets a new standard for the industry as an innovative way to focus on its poverty alleviation mission while mobilizing socially-responsible capital, creating positive social impact and financial sustainability.
Being one of the leading MFIs in the country, FINCA Georgia serves over 34,000 active clients through its 30 branch offices. FINCA Georgia provides clients with a range of financial products and services, enabling them to improve their livelihoods, including: group and individual loans. FINCA Georgia identifies, pilots, and partners with other service providers to bring new life-enhancement services to clients, and funds cutting-edge research to track the benefits to clients allowing FINCA to better serve them and maintain a leading position in Georgian microfinance sector. FINCA Georgia is committed to ensure this through its commercial principles of performance and sustainability.
Please contact us:
www.FINCA.ge
www.FINCA.org
About MobiPay and OpenRevolution:
MobiPay is the first multi-national payment network for mobile financial services and is the trademark of OpenRevolution LLC, an American company, that operates in Georgia under its subsidiary, OpenRevolution Georgia JSC. Open Revolution investors include two respected private equity firms, V-Ten Capital Partners owned by leading American businessman Richard Sharp and Blue Heron Capital. The Eurasian base of operations for MobiPay is located in Tbilisi, Georgia.
Please contact us:
Inquiries: Justyna Pszonak, (202) 580 7032
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
www.openrev.com
www.mobipay.ge
www.facebook.com/MobiPayGeorgia
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