Micro Lending Foundation (MLF) HUMO last month gave a presentation of a new product with the function of mobile commerce for easy purchase payment method – HUMO Online.
Representatives of leading business structures and media who were invited to the presentation got an opportunity to get acquainted with the new service and value its advantages.
With introduction of a new program in the field of mobile banking – HUMO Online, the population of Tajikistan has reportedly got an opportunity to carry out many transactions without wasting time for visiting banks, terminals or ATMs.
Recall, mobile banking was introduced in Tajikistan in 2014. The first stage of introduction of mobile banking reportedly included determining the list of bank transactions that will be carried out by lending organizations and customers through mobile communications. The second stage included development of transaction technologies and carrying out first transactions.
Mobile banking is a system that allows customers of a financial institution to conduct a number of financial transactions through a mobile device such as a mobile phone. The earliest mobile banking services were offered over SMS, a service known as SMS banking. With the introduction of smart phones with WAP support enabling the use of the mobile web in 1999, the first European banks started to offer mobile banking on this platform to their customers.
Mobile banking is used in many parts of the world with little or no infrastructure, especially remote and rural areas. This aspect of mobile commerce is also popular in countries where most of their population is unbanked. In most of these places, banks can only be found in big cities, and customers have to travel hundreds of miles to the nearest bank.
HUMO is successor of the CARE Tajikistan credit program. CARE Tajikistan started implementing credit programs in 1996. To respond to the changing legal environment, CARE Tajikistan transformed MCU to an independent, locally registered and certificated Micro Lending Foundation (MLF) with the name HUMO.
HUMO visualizes the development of a Micro Finance Organization (MFO) as taking place in two stages: microlending fund – non-commercial organization and microlending deposit organization (for 2008).
The HUMO mission is to improve the living standards of the marginalized and poor populations and to support the micro and small enterprises with credit and credit related services.
