Enabling economies to become cashless
So why are economies trying to go Cashless. There are a few benefits to this in the new digital age:
The costs of handling cash are big for organizations.
Less Cash on the move will decrease crime, both for businesses and individuals.
Production costs for coins and paper currency will be reduced for governments - certain governments make physical money at a loss as the money costs more to make than it is worth.
It has been proven in several countries globally that going cashless boosts economic growth as transactions within the economy are increased.
In certain economies where money tracebility may be a challenge because of the nature of the informal business market, going cashless presents an opportunity to understand the economy through market visibility and thus better leverage growth.
From inception Raven system has been created not only to drive financial inclusion but also to tackle the challenges that cash presents in any economy. How is this achieved you may ask? By keeping the costs of using the system really low. Our question to ourselves......how do we make it possible for an individual to walk up to a vendor and but a stick of gum not using cash.
Our systems also allow business and organisation to trace every single little bit of money that has been spent and where it has been spent thus allowing for better tracebility of money within any business and better business reporting.