BROOKINGS, S.D. and CAPE TOWN, South Africa - How to reach Africa's unbanked citizenry through retail and electronic banking will be highlighted at the ATM International Association's "ATMs in Africa 2" Conference Feb. 24-25 in Cape Town, South Africa.
According to a news release, the role of the ATM as a viable enabling channel for financial transactions by low-income and migrant workers and illiterate people is becoming a global issue for the ATM industry. The potential market for payroll-stored value cards for the unbanked in the United States alone is estimated at $109.8 billion, according to Mercator Advisory Group.
And estimations of unbanked populations in various countries reveal the issue's enormity, the release added. For example, in the United States - the world's largest ATM market - the Federal Reserve Bank of Chicago estimates that 18 percent of United States-born families and 32 percent of foreign-born households do not have banking accounts, according to the release. In 2001, the Comptroller of the Currency, John Hawke, estimated that 10 million American households did not have accounts with financial institutions.
In Brazil, an estimated 40 million Brazilians and 50 percent of the Mexican population do not have bank accounts. And in South Africa, more than half of the region's adults, many of whom are illiterate and living in remote areas, are unbanked.
During the conference, Willem van Biljon, co-founder and new business director of Mosaic Software, will unlock the prospects for stored-value cards for Africa. And Sithembiso Sibiya, Africa manager for First National Bank, will show how ATMs are reaching out to rural communities in South Africa.
The conference will look at card security, cyber security and physical security for African ATMs.
Standard Bank director of convenience marketing Lincoln Mali will be the keynote speaker at the conference, which is being held at the Cape Town International Conventions Centre.
The ATM Industry Association is an alliance dedicated to the global advancement and proliferation of ATMs, with members in 28 countries.
For more information, please contact Mike Lee at +27-21-9750752 or mike@atmia.com. Or, contact Amanda Hardy at +44-(0)207-6035467 or amanda@atmiaconferences.com.
