Bringing a lot of changes to the financial industry, Digital Global Pass offers convenient
solutions for shoppers to pay online. How did it affect the way microtransactions
are processed?
The fintech firm has designed two solutions that are based
on the direct operator billing
infrastructure. This is an innovative tech that is completely different from
traditional methods related to banks. In fact, these institutions are not
involved at all. Thus, you do not need a credit or debit card to conduct
settlements. This allows unbanked and underbanked customers to pay online
without difficulty. Previously, this was not possible. As such, there was some
form of discrimination against them. They could not enjoy the same facilities
as others.
Thus, fintech firms worked on new solutions that would
promote financial inclusion. Now, if you use SMS+ or Internet+, you just need a
mobile account to pay online. A device which is connected to the Internet is
also required. This can be a smartphone, a tablet or a PC. After completing the
steps that you need to go through to purchase an item, your network service
provider will validate your identity and add the charges to your phone bill
at the end of the month.
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