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Trak Wins the Bill and Melinda Gates and ETA's E-Payment Innovator Award for the Unbanked

Wednesday, May 8, 2013 1:33 PM


Trak (www.trakgo.com) won the top award of $10,000 at Electronic Transaction Association (ETA) Conference 2013 annual meeting and expo that took place in New Orleans on April 30 to May 2, 2013. The ETA, which is the trade association of the global electronics payments industry, oversaw the E-Pay Innovation Award funded by the Bill and Melinda Gates Foundation.

Boleto is a unique barcode payment ticket that contains the customer’s unique purchase data and Trak’s bank information. Boleto is emailed to the buyer's smartphone instantly, after checkout. Consumers can go with the printed Boleto ticket or equivalent proof of the email to any Brazilian bank, selected post offices, lottery agents, as well as some supermarkets for cash payments. Thereafter, electronic verification is sent to Trak by the payment provider and the customer’s order is released by the retail store for pick-up or delivery. Brazilian users can find more information at www.trakgo.com.br.

Trak Wallet shopping and payment app for iOS and Android will be launched for the first time this year in Brazil. The sign up process is straight-forward and can be done directly on the user’s mobile phone handset or at www.trakgo.com. The Boleto payment option is presented at checkout alongside the traditional card brand payment options.

Through Trak’s easy to navigate, beautifully designed, user-friendly app, consumers can locate different stores and shops nearby; see high-resolution photos of products and compare prices.

Brazilian payments industry experts contend that Boleto already represents 20% of the $11.7 billion online e-commerce transactions volume in Brazil. “To extend Boleto to smartphones and tablets, combined with a great mobile shopping experience and easy payment checkout options, makes a lot of sense," said Keith White, CEO of Trak. “There is limitless potential because penetrating just a small percent of the unbanked market globally can be worth billions.”

The Brazilian Central Bank study forecast the percentage of unbanked Brazilians at about 30 percent or 60 million people. Trak is set on reversing this trend and introducing mobile shopping in places where, electronic commerce is less common.

(Source: Business Wire )
(Source: Quotemedia)

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