BAGHDAD: ZainGroup, the leading mobile telecom innovator in eight markets across the MiddleEast and Africa, announces that Zain Cash, its award-winning mobile wallet,money transfer, electronic bill payment, and funds disbursement service in Iraqwill introduce a revolutionary EyePay Cash platform enabling refugees tocash-out their financial assistance via iris identification.
The program hasbeen developed by Zain Cash in partnership with United Nations HighCommissioner for Refugees (UNHCR) and IrisGuard, a UK-based electronic paymentsolutions company and the leading supplier of end-to-end iris recognitionbiometric technology, to ensure the highest level of protection against fraudand improved accountability in transferring cash assistance to thebeneficiaries of UNHCR.
Currently over120,000 vulnerable families in Iraq and approximately 30,000 refugees in thecountry receive cash support via UNHCR, with the agency disbursing over $60million through its partners in 2018 alone. The introduction of iris technologyfor payment of cash assistance will improve identification accuracy, efficiencyand speed as it is the most accurate, fast and secure biometric personalidentifier available today.
Only the entitledrefugee will be able cash-out without any need for any other identificationtools, it massively reduces fraud and as such, the much-needed aid is providedto those who it is intended for. It is worth mentioning that UNHCR has in placea high level of security and encryption for its registration data. Astreamlined disbursement process will significantly aid UNHCR and otherhumanitarian organizations in Iraq who are targeting more than 1 milliondisplaced Iraqis and refugees for cash assistance in 2019.
Ayman Gharaibeh,UNHCR Iraq Representative said, "UNHCR always looks for new and improvedtechnologies that can help enhance protection services to refugees, including cashassistance. We have been utilizing iris scan technology to facilitateassistance in the MENA region - in Jordan, Lebanon and Egypt - and it hasproven to be a most effective and efficient channel. Iris scan reinforces thedignity of the beneficiaries ensuring their identity through their iris andthus is fraud free. UNHCR is glad that Zain Cash is taking the lead in rollingout the use of iris scan technology in Iraq in cooperation withIrisGuard."
Commenting on theadoption of the EyePay Cash platform in Iraq, Zain Cash CEO, Yazen Altimimisaid, "Zain has a strong commitment to the people of Iraq and itsresidents. We are steadfast in our desire to play an important role in thesocio-economic development of this great nation, and as such our collaboration with UNHCR and IrisGuard allowsus to return greater dignity, privacy and ensure financial inclusion ofvulnerable people throughout Iraq, and we expect the streamlined disbursementof critical cash assistance to these in need will have a marked and immediatepositive impact on their lives."
Imad Malhas,Founder and CEO at IrisGuard commented, "We are proud to be leading theway in providing financial inclusion for vulnerable populations in the blink ofan eye. We are delighted to be partnered with Zain Cash and the UNHCR providinga reliable, 100% accurate solution which removes risks, increases beneficiaryprivacy, improves speed and ultimately ensures that those who need it receiveaid faster and in a more secure way."
By integratingthe iris technology in the registration and cash-out of assistance to refugees,the disbursement process is set to become more streamlined and secure and quickin comparison to previous process which took over 15 days. The on-boardingprocess for iris biometric capture is fast and simple - the IrisGuard imagercaptures a greyscale image of the iris, converting it to a reliable andpermanent Unique Verifiable Identity (UVI) that is used for cross-matchingpurposes. IrisGuard's EyePay Phone is the first of its kind; and capable ofauthenticating identity on a global scale within 3 seconds. This new smartphone combines IrisGuard'sexpertise in iris recognition technology with mobile capability,providing the world's onlyone to millions iris comparison in real-time.
IrisGuard wasfounded in 2001 and is a UK-based electronic payment solutions company and theleading supplier of end-to-end iris recognition biometric technology forlarge-scale deployments, focused on managing trusted human identityrequirements for large populations. Zain Cash was launched in late 2015 by Zainand Iraq Wallet, allowing users to deposit, withdraw, transfer money and payfor goods and services via their mobile phone. The service was subsequentlychosen by UNHCR as a disbursement mechanism for refugees in Iraq.