Simple acts of flicking on a light switch, turning on the heat during a cold night or using water for basic day-to-day activities is inaccessible to many across the world. And if people do have access to these resources, the quality is often poor and jeopardizes their health.
The tools they really need to improve their lives require a large investment that has to be paid upfront. With the Internet of Things and the growing adoption of mobile money, pay-as-you-go programs are making it easier for people to access these goods and services by providing them a more flexible way to pay for them.
Instead of a one-time charge to buy tools such as a gas stove, they can install it at home and purchase credits to use it over a period of time until it is paid off. The hardware is connected to the internet, enabling the provider to prevent the device from producing gas if credits are depleted.
Lighting Up Lives
Pay-as-you-go can increase access to basic necessities for those in remote areas who are not served by traditional infrastructure and lack financial resources. Solar is a strong example of an industry that has seen a huge boost as a result of pay-as-you-go and is currently electrifying rural Africa.
Mastercard and M-KOPA are launching a pay-as-you-go pilot to give Ugandans access to expensive solar equipment that can light up their homes and businesses. Rather than paying a hefty cost upfront, users can make a small deposit and take the panels home with an agreement to pay them off over a year.
In this case, Mastercard’s Pay-Go application programming interface (API) connects with the M-KOPA hardware that controls its ability to produce light. M-KOPA customers to top up their solar accounts with credits by scanning a Quick Response (QR) code and use the device as needed.
The pay-as-you-go model can open up access in lot of other areas in addition to solar, namely:
- Water – Providing clean water directly into homes instead of unsafe, communal system
- Telecommunications – Bringing internet and mobile networks to remote areas
- Agriculture – Enabling smallholder farmers to buy farming equipment needed for a sustainable livelihood.
- Gas Stoves – Replacing the use of unhealthy fuels like charcoal and kerosene with access to modern equipment powered by cleaner alternatives
Creating New Waves in Financial Inclusion
Additionally, pay-as-you-go also opens up access to financial services and tools, often for the first time. By keeping accurate records of payments that a user is making, the user generates verifiable digital identity and trackable credit history which was previously impossible to create or maintain. This data gives companies and financial service providers the ability to put underserved populations on a new path to financial inclusion.
If you want to see which industries can benefit from pay-as-you go models, please read our white paper ‘Pay-As-You-Go and the Internet of Things: Driving a New Wave of Financial Inclusion in the Developing World.’ The report was developed from in-depth interviews of and conversations with more than 25 pay-as-you-go company founders and highlights how its use can benefit those struggling to meet basic needs.
41 Comments
good
JEE Main Counselling Details Here
Really love your campaign
nice post!!
Thank you for sharing informative articles here.
Great news
Great
Visit our WEB PAGE to download android tv apps
Great post.
A great post, I really appreciate the writer, I have usually visited this website and blogs are really awesome.
Vòng đá thạch anh tím được nhiều hoàng tộc trên thế giới vì màu tím của nó biểu tượng cho quyền lực của bề trên. Luân xa con mắt thứ 3 được cho là có mối liên kết với đá thạch tím, do đó vòng tay đá thạch tím giúp nâng cao năng lực nhận biết sâu sắc thế giới xung quanh. Đá quý An An là địa chỉ cung cấp vòng tay thạch anh tím hàng đầu Hà Nội, đảm bảo chất lượng cho người tiêu dùng.
i will share you good post to my social media friends and tell them about this.
As pay as you go provide a perfect framework that improved the pocket transactions.
nice post thans for this post.
Great news admin
It become very necessary in day to day life
good
That’s really interesting post. Very nice. Really appreciate this.
Good website! I truly love how it is simple on my eyes and the data are well written. I am wondering how I could be notified whenever a new post has been made. I’ve subscribed to your feed which must do the trick! Have a nice day!
Thanks for sharing the information
Thanks to this article I can find out more. Expand my knowledge and abilities. Actually the article is very practical.
Thanks for sharing the information
I really thank your post, it fixed my problem
if you are playing online game and you want some xbox codes for your game then you can click the link and get it and you can enjoy the game
Have you visited any Einstein Bros. Bagels to enjoy your meals? If yes, then, do provide your valuable experience with them through BagelTalk.
TellBrueggers Survey is all about your visit to the restaurant and it collects genuine data on its food and services for their betterment.
Pretty good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your blog posts. Any way I’ll be subscribing to your feed and I hope you post again soon. Big thanks for the useful info.
Thank you…. this is what should mastercard do…
This is actually a good access. Thanks for sharing
This is my first visit to your web journal! We are a group of volunteers and new activities in the same specialty. Website gave us helpful data to work.
The booking can be done also. Go for ‘Quality not for ‘Quantity’ Kolkata Escorts Full Support to You
We pledge Kolkata Escorts for ‘inkball Escorts’ & ‘outcall Escorts’ both. Let us perceive to know your your requirements. As we provide services at 5 star hotels & resorts
I discovered your this post while hunting down some related data on website search. It’s a decent post. Keep posting and upgrade the data.
Ativador Windows 7
i believe in it as well
Khi đến với khóa học đào tạo tester của Testerpro VN bạn sẽ được đào tạo những kiến thức chuyên môn thực tế nhất đặc biệt sau khi khóa học kết thúc nếu bạn có nhu cầu thì trung tâm sẽ tạo điều kiện hỗ trợ giúp đỡ bạn tìm kiếm việc làm. Nhanh tay đăng ký học tại Cs1: ngõ 76 – Duy Tân Cầu Giấy – HN, Cs2: Đống Đa – Nà Nội hoặc qua số điện thoại: 0973703357
Great thank you.
I found it very informative, thanks and keep it up!
Waw, Good to read.
it was Great thank you.
Thanks for sharing helpful information.
awesome blog
ارائه کننده اکانت IPTV | sibiptv.com