It turns out that more than half of the people on Earth, for various reasons, cannot use ATMs and banking services. This problem can be largely solved by the startup Abra, with the help of which all banking operations, including cash, can be performed using a mobile phone.
There is no need for ATMs and visits to bank branches, but for this you need to master the appropriate application, the main idea of which is to make a banking operation as simple as sending an SMS.
Abra was developed by Bill Barhidt, software author for Goldman Sachs Bank. He literally said the following about his brainchild:
“Traditional banking is designed for 5-10% of the world's population who have reached a certain level of income. The rest of the people find themselves outside the "board" of this blessing of civilization. "
Now how does Abra work. To get, for example, $ 100, you need to open the application and use the GPS of your mobile phone to find the nearest cashier. Moreover, his role can be performed by both ordinary people and organizations. This system is somewhat similar to the popular Uber taxi search application.
As soon as the "cashier" is found, you make an appointment with him in a convenient place. Each party receives a QR code, by entering which a person confirms the transaction and the money is issued. The deposit is made in the same way, but in the reverse order.
For the completed operation, the cashier receives a commission within 1.5% of the amount. Everything happens anonymously. Only the phone number appears in the operation.
To begin with, one of the versions of Abra will be tested in the United States and the Philippines, after which it will become available worldwide.