Airfox continues to make waves in Brazil with it’s unique financial service app based on blockchain technology. This week Forbes magazine carried a great piece in which it described Airfox as “democratic fintech”, as the mission of the app is to grant access to financial services to Brazilian’s without bank accounts on their smartphones.
Over 64% of the population of Brazil don’t have bank accounts. And the ones that do have to face high taxes and a lot of bureaucracy. Not only does Airfox grant access to services such as deposits, payments and charging the public transport card on the palm of the user’s hand, the app also doesn’t require credit checks, unlike it’s competitors, which means anybody can be an Airfox user.
On this Forbes piece, Airfox’s CEO Victor Santos was interviewed and talked about banking accessibility in Brazil.