dopay is offering financial services to the 2 billion people that have jobs, but no bank account
Worldwide there are 2 billion people that have a job, but no bank account. In a country like Egypt for instance, 90% of the population is unbanked. dopay caters for employees in emerging markets who lack bank accounts and hence transact solely in cash.
dopay gives these employees access to financial services through their employer. The company provides a cloud-based payroll and cash management service that allows employers to calculate the net salary and pay all employees electronically. Those employees that are unbanked receive a dopay card. This card can be used in much the same way as a normal debit card. Through a mobile app, a full banking experience is provided to people that were previously unbanked.
Dopay has launched is services in Egypt and opened an office in Ghana two months ago. The company has global ambitions.
Earlier this year, dopay was part of the first cohort of the Barclays Accelerator programme in London, which was powered by Techstars, the world’s largest accelerator company.
Name CEO: Frans van Eersel
Company founded in: 2011 or later
Country: United Kingdom
Category: Payments & Transfers