IrisGuard biometrics to support Ethiopia’s G2C payments, financial inclusion
IrisGuard is extending its EyePay Network platform to Ethiopia to enable millions of people easily access government-to-citizen (G2C) payments in a move to facilitate digital financial transactions and advance financial inclusion.
In an announcement, IrisGuard says it is working with Ethiopian fintech startup ArifPay to deploy its robust payment architecture which uses iris biometrics as the only method of authentication for payments, which ensures that only intended beneficiaries are served.
The partners say the deal will reinforce Ethiopia’s push for financial inclusion as only around 25 percent of its population of more than 100 million people have bank accounts, and will make the country a center for digital payment innovations using cutting-edge technology.
“We are proud to be part of such a remarkable milestone in Ethiopia with our partners at ArifPay. Ethiopia’s innovative landscape is the perfect stage for our EyePay Network services and the kind of transparency and accountability levels it brings in the international humanitarian assistance arena,” Imad Malhas, founder and managing director of IrisGuard, says in the announcement.
“As part of our global expansion plans, we look forward to working with local partners, who share our passion for innovation and for expanding financial inclusion, in new regions across the world.”
ArifPay CEO Bernard Laurendeau says the solution will enable his company to serve millions of Ethiopians without a bank account: “We are excited to work with IrisGuard in Ethiopia and about the potential the EyePay Network platform brings to Ethiopia and the African continent. This solution will enable us to serve millions of unbanked people and support the Government’s ongoing efforts to digitize the economy at the highest level of accountability and transparency.”
IrisGuard’s EyePay Network is an iris biometrics platform which provides users a single web portal interface connecting multiple payers to a network of payment service providers.
ArifPay has a license from the National Bank of Ethiopia as a point-of-sale payments operator and a payment gateway.
In May, Iris Guard said it was helping over 280,000 refugees in Iraq to access humanitarian cash aid using its iris recognition technology.