Using one’s own mobile device, a person can open a deposit bank account. METTCARE provides two options for the account creation whether a person has a valid government I.D. or not.
METTCARE Mobile Account Create with government I.D. (M-VeriOpen)
Using METTCARE M-VeriOpen to open a deposit bank account with a valid government I.D. is a simple process as long as valid government credentials can be supplied at the time of the account creation. The process is based on specific requirements of a particular country and/or region. This METTCARE solution is mostly oriented towards those countries where the use of government I.D.s is mandated (EU, North America, Japan, Australia, New Zealand) but can also be used in any other place where valid government I.D.s are present.
METTCARE Mobile Account Create without government I.D. (M-Open)
A large portion of the world’s population lives in areas where it is not easy to obtain a government I.D. due to geographical isolation, internal migration, political segregation, and wars. This includes many parts of Africa, South America, Middle East, and Central Asia. Even those transitional countries that are working hard on assigning government I.D.s to their population (India , China ), still have large sections of population without a unique government I.D. Persons without official government I.D.s are excluded from many financial and healthcare activities.
Using METTCARE M-Open it would be possible for all such persons that own a mobile device to open a bank account at participating banks using their mobile devices as identifiers. All accounts would be debit accounts only, alleviating the risk associated with bank credit. Client could only spend amounts up to the limit of his/her deposit account balance.
The account creation process is adjusted for a specific country, region and culture to collect valid person’s attributes (name, family identifiers, place) and create a base of verifiable data that can be shared with multiple government agencies and world bodies (financial assistance programs, WHO, etc.).
Using METTCARE Mobile Cash Deposit and METTCARE Mobile Cash Payment, users would be able to conduct all their financial activity using their mobile devices, even when a single device is shared among family members.
The benefits of such an enterprise approach offered by METTCARE would be multifold integrating a large section of society into economic activity that could help lift them out of poverty. It would help governments control their monetary flow to better understand the needs of specific segments of the society. It could also help in preventing money laundering and financing of criminal and terrorist activities as physical cash could eventually be replaced by the mobile cash.