LIMASSOL, Cyprus, Dec. 12, 2019 /PRNewswire-PRWeb/ -- CreditPilot,
a financial technology company specializing in digital and mobile
financial services, transactional and payment infrastructure, and
GS Cashline Ltd, a major Cypriot money transfer operator announced
a technology partnership agreement.
Under the terms of agreement, CreditPilot's technology will
power the money transfers on behalf of Cashline through a mobile
app and via an online service. The first stage of the project will
allow Cashline customers, whose identities have already been
verified in a physical remittance point, to effect their money
transfers remotely, without having to go to a GS Cashline branch.
Credit or debit cards will be used as a source of funds. Companies
expect to launch this app for the existing Cashline customers in
Q1'2020.
At the later stage, CreditPilot and GS Cashline plan to
introduce a compliant identification method that will allow new
clients to use remittance, payment and marketplace services. Thus
the service shall become available to all money transfer services
users on Cyprus.
Commenting on the announcement, Mr. Stavros Stavrou, the managing director of GS
Cashline Ltd, said: "Being the operator that processes more than
half of all outbound remittances in the country, we see it as our
duty to make the remittance process as quick and easy as possible;
using CreditPilot's technology, we wish to help the immigrant
workers, people who contribute so much to the well-being of
Cyprus, to save time, money and
effort they invest in supporting families and friends in their
countries of origin."
Mr. Kyrillos Akritides, the CEO of Credit Pilot PLC, added:
"Financial inclusion is not exclusively a third-world issue, many
people are still excluded from formal banking in the European
countries and Cyprus is not an
exception. As an active participant of ITU's Financial Inclusion
Global Initiative (FIGI), we take it as our mission to utilize our
technology to bring money remittance to the next level as a way to
eventually open the formal banking, credit and other possibilities
to the immigrant workers, one of the vulnerable strata of the
European society."
About CreditPilot:
CreditPilot is a European financial technology company specializing
in digital and mobile financial services, transactional and payment
infrastructure. The company champions financial inclusion and equal
access to financial services for all people, regardless of location
and income. CreditPilot is a member of ITU, United Nations'
telecommunications regulatory body, and active participant of ITU's
Financial Inclusion Global Initiative (FIGI). CreditPilot's
flagship product for non-financial consumer-facing businesses is
A2A (Any2Any), a digital payment ecosystem, that enables mobile
network operators and retail businesses to provide mobile financial
services and digital financial services to their customers. A2A is
available through various mobile operators to almost 100 million
people across the world as of June
2019. To know more about CreditPilot, visit us on
http://www.creditpilot.com, and follow us on Twitter at
@CreditPilot.
About GS Cashline Ltd:
G.S. Cash Line Limited was incorporated under the Companies Law as
a Limited Liability company with registration number HE138607, in
Nicosia, Cyprus in May 2003 for the purpose of providing money
transfer services to immigrant workers, who looked for a safe, easy
and efficient way to transfer part of their salaries back to their
home countries. Cashline is the leading payment Institution in
Cyprus sending out of the country
300,000 transactions of a total of 600000 processed by all payment
institutions operating in Cyprus,
on a yearly basis. The company provides its services from seven 7
owned locations, and 40 agent money transfer locations covering all
city centers and major areas throughout Cyprus.
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For further information, contact:
Credit Pilot PLC:
Lilian Waceke Tel.: +357 25 080000 | Email:
media@creditpilot.com
Kristina Leblanc Tel: +1 508 930
5636 | Email: media@creditpilot.com
GS Cashline Ltd:
Alina Florea Tel: +357 22818766 |
Email: info@gscashline.com
SOURCE CreditPilot