Mahfazti Empowered by VERICASH to Deliver 90% of UNHCR Cash Program in Jordan
For The First Time Refugees Can Digitally Manage Their Money Using Mobile Phones
Mahfazti Empowered by VERICASH
As part of the UNHCR’s contribution to enhance the quality of life of the refugees, UNHCR uses the Common Cash Facility (CCF) program to deliver more than 90 percent of the cash assistance provided to the most vulnerable Syrian refugees in Jordan. CCF program is used by 22 agents from the UNHCR. Mahfazti ecosystem has won the project and is partnering with UNHCR to empower refugees and enable them to withdraw cash and perform payments only by using their mobile phones.
Mahfazti redefines the way people deal with money, combining all the essential daily money transactions in one mobile application. Mahfazti is a highly effective method of facilitating secure money transactions in just a few simple steps. Mahfazti provides the refugees with a new, safe and easy way to make electronic payments and manage their money using their mobile phones where all families can be benefited with value-added services and perform bill payments and purchases in addition to cash-in/cash-out processes, and therefore reduces all the burdens and risks for the user.
VERICASH platform empowers Mahfazti with unique value proposition across the Jordanian market by offering a wide portfolio of services for both banked and unbanked, through aggregating the connectivity to agents network, payment networks, Jonet the local ATM switch and the local billing aggregator efwateercom. VERICASH strong integration capabilities also availed the connectivity to the UNHCR systems for data security and integrity which guarantees the convenient cash assistance disbursement and redemption.
Mahfazti ecosystem is managed by Al-Hulool for electronic payment Solutions Company— which was established in 2014 with a 24-year technical background as the first fully-fledged cooperative alliance between various banks including: Cairo Amman Bank, Bank Al Etihad, Housing Bank, Bank of Jordan, Jordan Ahli Bank, and Arab Jordan Investment Bank.
CIT VERICASH — the mobile payment division of CIT Global— provides an innovative software platform that enables an ecosystem of collaborative mobile financial services empowering financial inclusion in emerging markets. CIT VERICASH is building on CIT Global unique mix of expertise that is unmatched in the mobile services market. CIT Global is an international leading provider of innovative eCommerce and mCommerce software solutions and services delivering innovative and award-winning solutions to its clients in 45 countries.