how can this compete to Western union or other cash service ?
Bank4YOU Group plans to open wholesale accounts with mobile network operators negotiating maximum
discounts against guaranteed airtime purchases of $200,000 to $500,000. Operators will also
benefit from increased subscriber activity as new customers join as a result of Bank4YOU Groups local
marketing activities. The service will support intra-operator transfers so individuals on different networks
can still engage with each other using their Bank4YOU mobile wallets. Customers would be able to
transfer money to other countries with minimal commission fees and without being at the mercy of
restricted opening hours or the challenges faced when dealing with traditional financial institutions.
Business users will also have the opportunity to reduce their transaction costs and potentially execute
free payments to their suppliers.