Channel VAS utilizes Samsung Knox platform and solution to secure seamless device financing for the unbanked.
June 3, 2020: Global leading Fintech company Channel VAS announced their partnership with multinational electronics pioneer Samsung Electronics Co., Ltd. in a strategic agreement to provide flexible smartphone financing to the underbanked populations in emerging markets.
The agreement between Channel VAS and Samsung Electronics Co., Ltd. is based on utilizing the Samsung Knox platform and solution to secure seamless device financing for the unbanked. The combination of Channel VAS’ expertise in handset financing as well as micro and nano loans, and Samsung Electronics Co., Ltd.’ leading position in the global smartphone market opens up a multitude of opportunities to expand financial inclusion in developing regions, by providing the population with affordable access to smartphone technology.
“Our mission for providing financial inclusion to the underbanked and unbanked is a major driving factor for Channel VAS” stated Bassim Haidar, Channel VAS founder & CEO. “Partnering with a global leader like Samsung Electronics Co., Ltd. will enable us to bring affordable smartphones and viable financing solutions to people who have so far been excluded by traditional banking, largely due to their lack of access to technology. We are very happy to work with Samsung Electronics Co., Ltd. and we are looking forward to a long and fruitful collaboration.”
Channel VAS provides a wide range of services to mobile subscribers in the Middle East, Africa, Asia, Latin America and Europe, through internationally patented proprietary technology, serving over 700 million people and providing access to more than $8 million USD in daily loans globally. The agreement with Samsung Electronics Co., Ltd. will further enhance Channel VAS’ plan to expand the company’s financial inclusion offerings, through accessible devices and affordable mobile financial solutions to people.