<img src="https://d5nxst8fruw4z.cloudfront.net/atrk.gif?account=I+5xn1QolK10mh" style="display:none" height="1" width="1" alt="">

Payscout Blog

Fintech Industry Expands Access for Underserved Communities.

Posted by Lyn McKay on Sep 7, 2016 10:03:11 PM

ETA-LOGO.jpg

The oldest person ever to complete an Ironman Triathlon, Sister Madonna Buder, once said, “We have all been given different talents. And when we find them, we are obligated to use them for the greater good.”

For the fintech industry, that talent lies in providing expanded access to financial resources, and according to a recent report from the Electronic Transactions Association (ETA), the industry is using their talents for the greater good.

The ETA, a global trade association representing the payments technology industry, has published a white paper that explores how their member companies have introduced new products and services that expand access to underserved communities. Providing ATM access for the disabled, enabling remote check depositing for the elderly, and expanding access to credit for small business owners are just a few examples of those products and services.

The white paper is a testament to the significant progress financial institutions and the fintech industry are making to achieve an inclusive financial system that addresses the financial needs of underserved consumers.

For a fintech company that believes, “every individual has a social responsibility to make the world a better place,” the white paper is welcome news for Payscout – and affirmation that our ETA membership puts us in good company.

Payscout recently announced a partnership with the Jefferson Awards Foundation to serve as one of the Foundation’s “champions” and engage in meaningful community service. The partnership is a part of Payscout Gives – a series of community outreach initiatives that focus on supporting education and social entrepreneurship.

The products and services described in the ETA’s white paper suggest many members of the fintech community share in Payscout’s essential belief. That’s great news – because finance and technology are powerful tools. Like few other industries, fintech is uniquely positioned to leverage those tools (their “talents”) for the betterment of underserved communities.

Sister Madonna Buder would be proud.