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QR Code Payments Could Improve Financial Inclusion, as KogoPAY Launches new app

KogoPAY, a mobile wallet payment solution provider, has launched the second version of its mobile app, featuring QR code payment technology. The app has GBP and Euro wallets available, with money exchange possible between the two currencies.

The newest KogoPAY app plans to allow people to send money to friends, pay bills and accept payments with QR codes. The app also includes the new ‘Pay it Forward’ feature which enables users to directly help people in need. This could be with food, a drink or a small gift.

The menu of the app also now has an option for Thai language. The wallet provider explain that it expects more languages to be added in the near future. The feature indicates how the app will eventually enable users to hold funds in multiple currencies.

The news follows a report by the European Payments Council, outlining the necessity to standardise QR code payments for instant transfer between consumers, merchants and businesses. The report, ‘Standardising European QR-code payments‘, highlights how European mobile payment solutions are domestic and stop at borders. The situation has caused a “fragmented European mobile payments landscape”.

KogoPAY‘s app launch aims to respond to the European Payments Council report. The mobile wallet provider explained its goal of increasing financial inclusion and further empowering people to use money freely regardless of location on the globe.

In an effort to increase the adoption of the app, KogoPAY offers ‘KOGO coin points’ to users who refer friends that register and make a transaction on the app. Such coins can be used to provide a discount on transactional fees and other promotional items.

KogoPAY looks to expand worldwide.

KogoPAY also announced a partnership between itself and a highly-ranked hospital in Thailand. The Bumrungrad Hospital has made KogoPay its official payment partner for overseas customers. The news is significant, as Bumrungrad is a highly popular medical destination for patients.

The announcement also revealed that patients are to be able to book appointments via a link in the app itself. KogoPAY plans to use the partnership to help it to expand rapidly across the region. QR payments are already widely used across Asia, making it an ideal area to expand to.

In a video created by KogoPAY to promote the app launch, the company explained that it looks to support the likes of migrant workers, the underserved and the unbanked. Also on the app’s agenda is to become a tool that supports payments for SMEs. The self-proclaimed “socially conscious fintech start-up” plans to help build a fairer society by aiding, supporting, and advancing the community.

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