CashTech: Bolivian start-up wants taxis to deliver cash
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According to World Bank data, just over half of the adults in Bolivia hold a bank account and only 40% made or received a digital paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More in 2017. ATM density has reached 40 machines per 100,000 people.
Advertising firm Ogilvy Bolivia is launching Blink, a start-up which aims to transform the country’s 70,000 taxis into a mobile ATM network.
Users enter the required amount into the mobile app. A nearby taxi driver will deliver the cashMoney in physical form such as banknotes and coins. More, taking the moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More from his own funds. The taxi then receives a code which enables him to withdraw the amount and a commission from an ATM.
The company has received a gold innovation award at the Latin American El Ojo de Iberamerica festival as well as venture capital funding. The launch is planned in October.
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