There are over 3bn people who earn less than $2 a day; 80% of these people do not own a phone or a SIM, either of which are required to use mobile banking applications. While mobile technology is reducing the cost of access to reliable, affordable financial services to the unbanked, we need to be able to provide access to the unphoned. Although the unphoned may own a SIM, they face challenges with security, confidentiality, and access to donor phones in which to use the SIM, placing limits on their ability to use mobile banking.

MXPay is a mobile infrastructure platform which enables mobile service providers to create access to basic mobile banking services for the unphoned. The system is integrated with the operator's existing mobile payment server and extends the ability for the mobile service provider to attract those earning less than $2 a day to mobile banking.

The system can also be used to enable the distribution of welfare funds to specific people at a much lower cost than has been achieved before. Accounts can be set up for one-time payments enabling welfare organisations to send specific amounts of money to people living below the poverty line.· MXPay can also be used by utility operators to set up personal accounts for payment of utility bills and to participate in loyalty point schemes.

Users log in and log out of the system using a borrowed or street side payphone, just like you are I would log in and out of webmail. Once logged in users can access their mobile money account and can send or receive money, or check receipts in their message box. All their transactions are stored in a cloud based server, ensuring that no tracks are left on the donor phone handset. In order to incentivise the sharing of devices phone owners are compensated for sharing their phone in either airtime or money.

Movirtu is delivering technology solutions to mobile operators that break the traditional boundaries about how we implement technology to service the rural poor and enables operators to deliver services at a much lower cost point than has ever been achieved before. We are changing the mind-set of the poor who may think that they cannot afford basic financial services, and introducing a system which is considerably more economical and easier to use than traditional models. All poor people need financial services to increase household income, save and become less vulnerable to crisis. There is a tremendous potential with Movirtu’s ground-breaking technology to remove the barriers to entry for these people.