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SycaPay and Be-Bound Partner for Mobile Money

Be-Bound and SycaPay: A Partnership to Develop Mobile Money for the Ivory Coast

 We are thrilled to formally announce our partnership with SycaPay. This partnership is exciting for us because it demonstrates how Be-Bound’s connectivity technology contributes to the mobile economy in general. Our first project together, known as SycaPOS, will take place in the Ivory Coast, in collaboration with another of our partners: Famoco. With the integration of Be-Bound, SycaPOS terminals will have connectivity everywhere, enabling mobile money transactions, even where there is no internet. 

 Since mobile money was first launched in 2001, the African continent has seen the fastest uptake in the world, and maintains a leading role in the share of active accounts worldwide. But the swift rise in mobile phone penetration and interest in mobile money is not without its setbacks. Problems with mobile connectivity and a lack of interoperability among operators are obstacles that are barring mobile money’s full adoption.  SycaPOS solves these issues to make mobile money possible everywhere.

 

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Be-Bound in Laos connecting rural villages

The Digital Divide in Laos: What’s at Stake

The Internet was first introduced to Laos in 1994 with an email server set up at the Lao National Polytechnic Institute, and by 2016, the number of reported internet users in the country stood at just 15.7% of the population. This is up from the 7% reported in 2010, which was already double the number of users there were in 2008. But with 84.3% of the country still unconnected today, the digital divide remains a complex challenge. Even though Laos has experienced a steady rise in internet users along with economic development, bridging the digital divide requires more than just introducing the population to smartphones and computers.

The country of Laos provides a case study that demonstrates the main barriers to internet adoption and helps us understand what needs be done to get more people connected.

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