Iris-enabled digital payment services expand in Iraq by integrating with NassWallet for secure and convenient usage by refugees.
LONDON and ERBIL, Iraq, May 30, 2023 /PRNewswire/ — Today, IrisGuard and NassWallet announced a new partnership with the integration and deployment of the award-winning IrisGuard EyePay® iris enabled smartphone, EyeCloud ® platform with NassWallet’s mobile wallet service.
The integration will enable a regular verified disbursement of humanitarian cash assistance, provided by the United Nations High Commissioner for Refugees (UNHCR) to over 280,000 refugees who have fled to Iraq due to neighbouring conflicts.
NassWallet has been growing rapidly in recent years. In 2022, it processed over $1 billion in transactions across all its services in Iraq. This growth is being driven by the increasing popularity of mobile payments in Iraq and they are expanding their operations and new locations across major cities in Iraq. Members of the Iraqi Banking Association, which ensures that it meets the highest standards of financial regulation, NassWallet’s operations utilise the most secure and innovative technologies.
IrisGuard’s EyePay® platform utilises the human iris for 100% certain proof-of-life, ensuring cash assistance is delivered to those entitled to it without payment cards or bank accounts. IrisGuard’s iris recognition technology is a highly secure and reliable way to authenticate payments, used by Governments, financial institutions and NGOs around the world serving over 14 million beneficiaries including refugees and citizens, processing over USD $1.3b in humanitarian aid value per annum.
“We are delighted to be teaming up with NassWallet & the UNHCR. This is an important step in joint efforts to distribute humanitarian cash assistance with accuracy, transparency and convenience. Mobile wallets are an increasingly growing modality for the provision of cash-based interventions, and we have now fully integrated with three mobile network operators wallets across the MENA region in over 300 locations. Our product and service development has been focused on adapting our services to support both online and offline authentication solutions, in remote locations without compromising on constant availability or security. Our world first unique EyePay® Phone is the perfect device and platform to support this growth,“ said Imad Malhas, CEO & Founder of IrisGuard.
“We are excited to have joined forces with the team at IrisGuard and the UNHCR, to add this ground-breaking eKYC technology to our successful NassWallet platform and extend our operations by serving refugees and their families in Iraq with the highest security standards to ensure providing them with a convenient, fast and secure method to receive their funds,” said Waleed Khalid, CEO NassWallet
NassWallet have now deployed IrisGuard’s EyePay® payment system at 37 sites in Iraq and plan to increase this to 55 locations. Refugees are now able to easily and securely withdraw aid cash, using only their eyes as their unique identifier to the wallet.
Requiring only a 2G signal and featuring full GSMA & FCC approvals, the IrisGuard iris enabled Android EyePay® Phone is compatible with over 1400+ GSM mobile network operators (subject to local regulatory requirement). Biometric authentication for ensuring 100% proof of presence removes the need for any other form of ID such as PIN, card or ID documents. This anchor authentication is fast becoming a popular way for wallet security, accepted by users in both the developed and the developing worlds.
About IrisGuard
Founded in 2001, IrisGuard is a world-leader of end-to-end iris recognition platforms for large-scale deployments, empowering financial inclusion for the world’s poorest and most vulnerable with state-of-the-art iris recognition for integrated biometric registration and payment authentication to enable efficient distribution of cash, goods and services.
About NassWallet
NassWallet is a digital financial services company that provides a mobile app and online platform for users to send, receive, and manage their money. The company was founded in 2017 and is headquartered in Erbil, Iraq. NassWallet is licensed by the Central Bank of Iraq and is available to all Iraqi citizens/residents.
For more information on IrisGuard, please visit www.irisguard.com
Images of our products are available on request. Interview with Imad Malhas, CEO also available on request
Media contact:
Eva Mowbray
Director of Marketing
IrisGuard UK Ltd
T: + 44 (0) 01908 597114
M: +44 (0) 7539 739450
E: [email protected]
For more information on NassWallet, please visit www.nw.iq
Media contact:
Kardo Dler
Head of Media Section
NassWallet Erbil, Iraq
M: +964 (0) 750 5505040
E: [email protected]
Zahra Qasem
Director of Marketing
NassWallet Erbil, Iraq
M: +964 (0) 750 550 5303
Photo: https://mma.prnewswire.com/media/2088388/IrisGuard_NassWallet.jpg
SOURCE IrisGuard UK Ltd
