Why is UCO needed?
Consider a life in which you had no bank account and had to perform every transaction in-person with cash. More than 50% of the world’s working age population, or 2.5 billion adults, lack access to formal financial services.
The lack of banking and financial services to the poor hinders efforts to eradicate poverty in developing countries, resulting in financial exclusion. UCO channels financial inclusion through its impact oriented financial services initiatives at no cost to the disadvantaged of society, and in turn alleviates the burdens of poverty one step at a time.
What is UCO?
UCO is Universal Cash Online, a patent protected financial technology product. It provides a unique electronic solution to facilitate the transfer of funds, domestically and internationally, with a system that provides a seamless; financial rail for, and between, the banked and unbanked populations. It is an inclusive solution that serves as an enabler of economic participation with a diverse set of people and countries.
UCO solves the issues caused by current payment solutions through its free mobile platform available to 6.8 billion mobile phone subscriptions worldwide, reducing cost; time; and inconvenience.
Who does UCO benefit?
UCO benefits everyone: consumers, merchants, employers, financial institutions, and regulators/governments.
Consumers
UCO is especially helpful to expatriate workers sending money to their families in their country of origin and the 2.5 Billion unbanked located predominantly in emerging cash-based societies who have mobile phones but no bank accounts. It also gives consumers another option when they don’t want to expose themselves to identity theft, or submit their credit card information to an unfamiliar entity.
How is UCO different from other solutions?
Global
UCO eliminates geographical distance as a barrier in transferring money and will enable unbanked regions to operate within the world’s financial system. UCO allows users to buy locally and pay globally thereby exposing the progression of the world to everyone.
Fast
UCO’s patented financial technology platform allows us to reduce the time it takes to transfer and access value between two accounts in real-time.
Transparent
UCO’s digital footprint will enable the flow of funds to become visible and traceable.
Secure
UCO’s next generation data management protocols inhibit opportunities for fraudulent activities.
Reduced Costs
UCO offers a no fee service; it empowers the economically disadvantaged by giving them access to financial services that allows them to operate on par with the economically advantaged.
Inclusive
UCO adopters can be banked or unbanked, poor or affluent. UCO is for everyone.
How will you deal with compliance in the multi-national market?
We take compliance extremely seriously. UCO is in full compliance with all FinCEN (US) and FCA (UK) rules and regulations, and we take care to ensure we pre-emptively comply with the financial regulatory laws of every country in which UCO will have a presence.
How secure is UCO?
UCO implements state-of-the-art integrated next generation data management and machine learning techniques through artificial intelligence and “Big Data” to detect fraud, money laundering, and other financial crime by scanning all transactions and recognizing patterns that imply novelty or uncommon activity. UCO encrypts and maintains customer data and transactions in compliance with top payment industry standards.
Which currencies will be supported?
UCO will support the local currency of every country in which UCO has a presence.
If you have any questions that you feel were not answered, please use the “Contact us” form above. We appreciate your interest and will get back to you within 24 hours.
