About Zipp
Background
Zipp International Plc, London, UK, is the global Licensor for the Zipp EFT Interchange and it leads the Zipp group of companies that specialises in technology solutions for the financial sector.
Zipp is a low-cost global interchange network that links existing international banking networks, other Issuers and Acquirers with a new retail network. It is establishing a new era in banking and is beginning to transform the lives of even the most disadvantaged people.
Created through the establishment of an alliance of individuals and companies who recognise the need for lower cost financial solutions and have the expertise and the technology to deliver those services, Zipp works with Governments, Central Banks and multi-national corporations to draw together common interests in the financial development of people and countries.
Zipp transcends economic status, gender, location, race, colour and political exclusions. Incorporating cutting edge technology and without the issues of legacy systems. Zipp welcomes those who are excluded - incidentally there are around 3.5 billion adults among them.
Overall, Zipp will help to reduce widespread poverty and reduce the cost of doing business overseas by working with licensed partners who will deliver these services "in country"
Zipp, through its partners, will help to reduce the cost of International transfers through Online "Virtual" accounts, saving businesses money on transfer costs and currency exchange rates whilst also speeding up the payment process and eliminating errors in payment transactions.
Zipp projects will contribute to the delivery of economic growth as rural communities access savings and gain entry into formal banking, receive remittances at far lower costs, as well as through the provision of on-card 'micro-finance loan management' and, where appropriate, by linking the national switches of participating countries with the aim of;
Zipp is a low-cost global interchange network that links existing international banking networks, other Issuers and Acquirers with a new retail network. It is establishing a new era in banking and is beginning to transform the lives of even the most disadvantaged people.
Created through the establishment of an alliance of individuals and companies who recognise the need for lower cost financial solutions and have the expertise and the technology to deliver those services, Zipp works with Governments, Central Banks and multi-national corporations to draw together common interests in the financial development of people and countries.
Zipp transcends economic status, gender, location, race, colour and political exclusions. Incorporating cutting edge technology and without the issues of legacy systems. Zipp welcomes those who are excluded - incidentally there are around 3.5 billion adults among them.
Overall, Zipp will help to reduce widespread poverty and reduce the cost of doing business overseas by working with licensed partners who will deliver these services "in country"
Zipp, through its partners, will help to reduce the cost of International transfers through Online "Virtual" accounts, saving businesses money on transfer costs and currency exchange rates whilst also speeding up the payment process and eliminating errors in payment transactions.
Zipp projects will contribute to the delivery of economic growth as rural communities access savings and gain entry into formal banking, receive remittances at far lower costs, as well as through the provision of on-card 'micro-finance loan management' and, where appropriate, by linking the national switches of participating countries with the aim of;
- Banking the unbanked
- Changing the dynamics of International remittances
- Delivering the "Last mile" infrastructure
- Creating competition and lowering costs in Microfinance & Micro-saving provision
Zipp Card Solutions is regulated by the Financial Services Authority in the UK and has been granted a full e-Money Issuer Licence to issue cards and manage client funds.
Zipp provides the technology behind the EFT switch, bank host and card management programmes.
Zipps global initiatives in Financial Inclusion are endorsed by the Commonwealth Business Council, United Kingdom, a Charter of the Heads of States of the 54 countries of the CommonwealthManagement
The Zipp Group is managed by a board of eminent banking professionals including Bryan Sanderson (ex Group Global Chairman of Standard Chartered Bank) and Vijay Kumar, Entrepreneur and Chartered Accountant, with over 28 years financial and business experience as its Chief Executive.
Bryan Sanderson, is the Non-Executive Chairman. He was formerly Chairman of the Standard Chartered Bank he is currently Chairman of BUPA and several other companies. Bryan sat on the board of Six Continents, the renamed Bass brewing empire, and was a non executive director of Corus, formerly British Steel. He spent much of his early career with BP, becoming head of its chemicals business. He has extensive experience in emerging markets. |
Vijay Kumar, is the Founder and Chief Executive. He graduated with a degree in Mathematics in 1975 and then went on to become a Chartered accountant by 1979. A serial entrepreneur, starting as an International technology broker with an allied engineering business, he has been in the last 10 years involved in currency brokerage and trading in London and has a deep knowledge of foreign exchange risk management and analysis. He is a fully FSA approved Derivative trader and Investment Manager having qualified in the relevant exams in the Securities Institute in the City of London. |
The Zipp Eco-System where
everybody is a winner
Benefits to Stakeholders
The ZippCard brings many benefits to the stake holders who include:
Card holders
- Security of not holding funds in cash
- Cashback on all card purchases at participating merchants
- Instant, low cost card to card transfers for domestic & international remittances
- Entry level banking account which could build a credit rating
- Access to low cost micro-finance and micro-savings products
Merchants
- Revenue stream from transaction fees
- No Merchant Discount fee on purchases
- Increase footfall
- Build customer loyalty
Card Issuer (the Bank)
- Substantial float of client funds
- Rural outreach and large increase in customer base
- Offer additional services to existing commercial and private clients
- Cross selling opportunity to new clients
- Participate in the lucrative global migrant remittance
- Fulfilling CSR obligations
Employers/Educational Institutions/NGO's
- Bulk upload of payment files saves time & admin costs
- Eliminating cash payments removes security problems
- Back office accounting & reporting available through web log in
- Full support provided by CFS
- Employees enjoy cash back on purchases and can send receive remittances through cards
Microfinance Institutions
- Flexible online management system
- Reduces the cost of managing loan book
- Full account opening including KYC
- Loans disbursed and collected through cards
- Can be linked to micro-savings accounts to encourage saving culture
- Card holders can send and receive remittances
- Extensive reporting for client, retail lender and wholesaler
Vision Statement
Zipp is designed as a low-cost global interchange for the development of a new paradigm in banking, harnessing the energy, the ideas and the talents of the financial and technology sectors, to deliver better value and achieve real change to transform the lives of even the most disadvantaged people.
Mission Statement
To make Zipp the inclusive and preferred interchange network globally for low-cost migrant remittances, micro-finance, micro-savings and currency exchange.