Microfinance Lending

Mi-Pay's approach seeks to solve two of the most important challenges of micro-finance institutions:

• Collection of information from remote or rural clients
• Conducting financial transactions in remote or rural areas

Mi-Pay's micro-finance solution provides a fully managed mobile solution for distributing loans (funds) and managing the collection of loan repayments. We also enable transfers of grants and other government funds to farmers, fishermen and other communities. The solution can also be used by NGO's wishing to make payments to agents and employees "in the field". Mi-Pay enables MFI's to handle client management from a mobile phone, interfacing to their existing loans administration system.

This means loans officers can always have up to date information on their phones and should be able to handle many more clients in a much more efficient manner than can be handled on paper. Further more, under the Mi-Pay system, repayments can be made at approved agents including merchants, banks, Post Offices or through mobile phone operators. Such payments are recognised in real time on both the Agent's and the Individual's accounts so all parties always have an up-to-date view of the financial position, with or without direct access to the Internet. Loans can be viewed and payments against existing loans can be managed. Loan officers can manage all their loan accounts remotely, and can travel to remote rural areas to administer transactions using their mobile phone to manage their complete loan portfolio in a discrete manner whilst greatly reducing the need to carry paper.