HammerPay, a brand owned and operated by Hammer Technology Holdings, is a mobile-ﬁrst digital technology product, powering stored-value digital services for businesses and consumers, including those previously left outside the digital revolution. HammerPay was developed to scale a highly attractive digital cash/cashless solution to be deployed along with partners around the world, delivering expertise for both developed and developing economies. We recognize emerging markets as strong cashless opportunities, especially across the continent of Africa, which represents a key opportunity and is well aligned with our mission to drive new revenue for partner banks and merchants alike. Using the devices consumers already own and as Africa transforms to a digital-ﬁrst economy, HammerPay connects mobile consumers to cashless purchasing and bill payments, instantly enabling consumer broad adoption.
Growth in the adoption of digital services by government, businesses and consumers are having a positive impact on daily life in these emerging economies. Mobile technology is playing an increasingly central role in the economies as mobile broadband is the first and generally, the only technology for accessing the internet which opens the door to a whole new world. HammerPay Digital Alternative Settlement will unlock delivery of mobile cross-border and domestic peer-to-peer cash/cashless transactions, allowing recipients to instantly redeem across local and international merchants and banking partners. African's pursue new lives and opportunities away from their homeland each year, they remit home monetary value that exceeded $50 billion in 2018. This financial source is critical to the sustenance of many households across the region. In addition to high remittance fees, senders cannot guarantee money will go towards the intended use making cash an increasingly risky option for recipients. We believe the current “cash and agent” model will become reduced and replaced with digital settlement as smartphone adoption accelerates and digital economies mature. The digital remittance program as deployed by HammerPay, coupled with the CASHLESS transaction between the merchant and the consumer, significantly aids spreading of the transaction costs across the economic value chain. This is a key feature of the HammerPay solution in complying fully with the Sustainable Development Goal (SDG) mandate of the World Bank.