IrisGuard UK Ltd, the world leading Iris-based financial payment platform, announced the deployment of its revolutionary EyePay Cash mobile platform enabling refugees in Egypt to receive their financial aid assistance via iris identification in partnership with Egypt National Post ENPO and UNHCR, the United Nations Refugee Agency.
IrisGuard’s technology finds and authenticates one person out of millions, anywhere in the world, with 100% certainty in less than three seconds, without any form of ID. It delivers a transparent, error-free, secure, safe, contactless method for on boarding and verification.
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The Egyptian National Post is one of the largest postal, financial and governmental service providers in Egypt with an extensive services portfolio supporting an average of 20 million customers across an impressive network of 4,000 branches nationwide. ENPO aims to contribute to Egypt’s National Financial Inclusion Initiative sponsored by H.E Mr. Abdelfattah El Sisi, the President of Egypt, in which the use of digital financial services is promoted throughout the nation.
Within the framework of the partnership with UNHCR, ENPO has been providing instant remittances services to refugees in Egypt successfully since 2017. With the support of the EyePay®, the vast majority of the refugee population benefiting from UNHCR assistance in Egypt can now receive their cash through having their iris scanned at some ENPO branches, and the records are then verified on UNHCR database to ensure that there is a match with their individual case number. The new technology eliminates the need for refugees to provide any other identification documents and feeds ENPO back with the type of assistance and amount the beneficiary is due. The beneficiary is able to decide which assistance they wish to utilise at that particular time. At the end of the transaction, the beneficiary will be provided with a receipt for complete transparency which states the amount withdrawn and the available balance.
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“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, this is documented and a live report is available to ensure complete transparency. IrisGuard targeted aid distribution platform eliminates fraud, reduces bank fees, increases efficiency and allows more beneficiaries to receive the aid they so desperately need,” said Steven Choka, UNHCR Cash-based Interventions Officer.
Imad Malhas, IrisGuard Founder and CEO commented, “We are proud to be leading the way in providing financial inclusion for refugees in Egypt. We are delighted to be partnered with Egypt National Post ENPO and the United Nations and to provide a safe, secure and 100% accurate solution for targeted instant remittances service.”
The IrisGuard EyePay Cash platform is being actively used by millions of users worldwide including more than 2.5m refugees and asylum-seekers benefitting from the multi-purpose cash assistance program of UNHCR in different countries. The technology is safe, non-intrusive, efficient, 100% accurate and takes just a few seconds for the entire financial transaction to complete.
It can be implemented anywhere in the world quickly and with little infrastructure based on cutting-edge mobile iris technology developed and designed in the UK. The same platform is used in many other verticals such as pension schemes and healthcare organisations who are looking to secure patient medical record on the cloud, to reduce operational risks which will in turn reduce financial and legal liabilities. It is designed to easily integrate into existing payment services to securely process financial transactions.
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