Financial Inclusion Thru Mobile Wallets

The aim of the project is to leverage mobile wallets to enable financial inclusion, especially for the underprivileged and social enterprises.

By

Fairmarch Pte. Ltd.

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Social causes

Beneficiaries

SDGs covered

Endorsed by

Singtel

Market of Implementation

  • Singapore

Problem

Social Enterprises, charities and non-profits (impact organizations) are spearheading the transition towards a more financially sustainable and impactful model. The biggest challenge they face is finding customers while competing with general businesses.

Solution

Our project aims to channel mobile wallet customers on Dash towards beneficiaries through Fairmarch, an online marketplace that differentiates social enterprises, charities and non-profits from general businesses, generate sales to help these impact organisations be financially sustainable while allowing shoppers to feel good while doing good conveniently and with a peace-of-mind. Besides the very direct impact of helping generate sales for the beneficiaries, there is significant potential to leverage the synergy between mobile wallets and e-commerce to maximize future impact (e.g. general insights about impact-driven mobile wallet user profile, impact product/service performance, impact organizations – there have been many successful cases for microloans in this area). As an online marketplace differentiated by dedicating ourselves to supporting social enterprises, charities and non-profits (impact organisations), we indirectly support the various causes that support the environment, people with disabilities, and women and girls in a very direct manner (sales/revenues/funds). By selling the products/services of impact organisations supporting the causes mentioned, we support their financial sustainability and help them leverage the synergies of a centralized, credible platform. We would fall under “Socially And Environmentally Responsible/Diversified Supply Chain”.

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