HUMBL,® a US fintech delivering mobile payments and financial services, and Digital India Payments Limited (DIPL), announced a strategic partnership to enter the India market.
DIPL processes millions of dollars per day in financial and retail transactions, across 30,000 merchant locations in India, with extensions into Nepal, Bangladesh, Maldives, Myanmar, and Sri Lanka.
HUMBL® has developed a HUMBL® – Mobile App that allows customers to send money, receive money, exchange money, pay bills or pay merchants; as well as physical agent locations called: HUMBL Hubs®.
Varying by location, HUMBL Hubs® will be offering walk-in services to customers, such as cash pickup, foreign exchange, fair lending, bill payments, pre-paid cards, store credits, travel bookings, internet, and cell phone minutes from local merchant (“agent”) locations.
HUMBL Hubs® agents will perform these services via HUMBL® Mobile Pay and HUMBL® POS Tablet products, across a network of 30,000 trusted, highly trained DIPL retail locations, in a variety of urban and rural connectivity settings across the region.
“HUMBL® is doing to global financial services what UBER® did to the local taxi markets,” said Hari Prasath, Managing Director of DIPL. “Delivering high-quality financial services by pairing local consumers and merchants together through mobile technology, anywhere in the world.”
“Our younger Indian customers don’t want to visit multiple service branches to wait in long lines, pay expensive fees and highly variable rates,” continued Prasath. “HUMBL® gives them mobile financial services – faster, cheaper and in nearby locations.”
HUMBL® was recently featured by APAC and Oceania government leaders surrounding the UN 2030 Agenda, as a future global model for financial inclusion, quality and pricing controls, and reduced cross-border remittance costs.
“The 375 million people using Apple Pay are not the total addressable market,” said Brian Foote, CEO of HUMBL®. “HUMBL® was built to serve the other 7 billion, global consumers for whom the cost, use, and movement of money is on a very different grid,” said Foote.
HUMBL® will also be working with DIPL in support of globally innovative “Smart Grid” India government programs, which use biometric identifiers – like facial recognition or thumbprints – to help Indian customers with simplified banking, financial and government services at local HUMBL Hubs®.