02 Oct 2019

TECHNOLOGY REVOLUTIONISES DISBURSEMENT OF CASH TO REFUGEES

Imad Malhas, IrisGuard Founder and CEO

I am a firm believer in technology for good - technology to improve social, environmental and economic outcomes. In fact, at Iris Guard, we are proud to be leading the way in providing financial inclusion for vulnerable populations in the blink of an eye.

This month, we launched the revolutionary EyePay® Cash mobile platform enabling refugees to cash-out their financial assistance via iris identification in partnership with the United Nations and Zain Cash and in Iraq (read more here).  The platform offers a targeted aid distribution platform that eliminates fraud, reduces bank fees, increases efficiency and allows more beneficiaries to receive the aid they so desperately need. The same platform is used in many other verticals such as pension schemes that require proof-of-life to ensure accountability of pension fund distribution and entitlement.

The IrisGuard EyePay® Cash platform is being actively used by millions of beneficiaries of United Nations and numerous NGOs; United Nations using the platform, has already on-boarded more than 2.5m refugees and provided them with much-needed access to vital services they need; refugees are able to receive cash from ATMs and mobile cash-out agents or buy their food in supermarkets using solely their eyes. They do not need bank cards, pin numbers, private keys or any token that can be lost or stolen, denying them their aid. Our technology is safe, non-intrusive, efficient, 100% accurate and takes just a few seconds for the entire financial transaction to complete.

Integrated with the world's largest humanitarian Blockchain, IrisGuard’s EyePay® replaced the private key with the eye simplifying Blockchain interaction and increasing the number of transactions to over 250,000 per month. The beneficiary receives aid faster, in privacy and with dignity. The donors are assured complete accountability with every pound generously donated going only to those entitled to receive it.

The introduction of iris technology for payment of cash assistance with Zain Cash in Iraq will significantly aid United Nations and other humanitarian organizations that are targeting more than 1 million displaced Iraqis and refugees for cash assistance in 2019.

IrisGuard’s EyePay® Cash platform can be rolled out and scaled up anywhere in the world easily. Healthcare organisations are also looking to utilise EyePay® platform to secure patient medical records on the cloud, to reduce operational risks which will, in turn, reduce financial and legal liabilities while administering medication or applying the treatment. Apart from substantially reducing human error, eliminating fraud, enhancing speed and quality of medical care, the obvious common benefit is the great savings of healthcare administration cost and reduced fees.

This is where we truly see technology working for the good - for society and communities.

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