World's First Disbursement of Cash to Refugees With IrisGuard EyePay® and Mobile Wallet

LONDON, Aug. 30, 2019 /PRNewswire/ -- IrisGuard UK Ltd the world leader of Iris-based financial payment platform announced the deployment of its revolutionary EyePay® Cash mobile platform enabling refugees to cash-out their financial assistance via iris identification in partnership with United Nations and Zain Cash and in Iraq (read more here.)

Zain Cash - Iraq joins the fast-growing iris-based merchant network in MEA region that include bank ATMs, mobile wallet operators, post offices and remittance agents; the network was setup with support from the International Finance Corporation – IFC and the World Bank.

The IrisGuard EyePay® Cash platform is being actively used by millions of beneficiaries of United Nations and numerous NGOs; United Nations using the platform, has already on-boarded more than 2.5m refugees and provided them with much needed access to vital services they need; refugees are able to receive cash from ATMs and mobile cash-out agents or buy their food in supermarkets using solely their eyes. They do not need bank cards, pin numbers, private keys or any token that can be lost or stolen, denying them their aid. Our technology is safe, non-intrusive, efficient, 100% accurate and takes just a few seconds for the entire financial transaction to complete.

Integrated with the world's largest humanitarian Blockchain, IrisGuard's EyePay® replaced the private key with the eye simplifying blockchain interaction and increasing the number of transactions to over 250,000 per month. The beneficiary receives aid faster, in privacy and with dignity. The donors are assured complete accountability with every pound generously donated going only to those entitled to receive it. IrisGuard targeted aid distribution platform has eliminated fraud, reduced bank fees, increased efficiency and allowed more beneficiaries to receive the aid they so desperately need.

The introduction of iris technology for payment of cash assistance with Zain Cash in Iraq will significantly aid United Nations and other humanitarian organizations that are targeting more than 1 million displaced Iraqis and refugees for cash assistance in 2019.

Imad Malhas, IrisGuard Founder and CEO commented, "We are proud to be leading the way in providing financial inclusion for vulnerable populations in the blink of an eye. We are delighted to be partnered with Zain Cash and the United Nations providing a reliable, 100% accurate solution which removes risks, increases beneficiary privacy, improves speed and ultimately ensures that those who need it receive aid faster and in a more secure way."

IrisGuard's EyePay® Cash platform can be rolled out and scaled up anywhere in the world easily and quickly with little infrastructure based on cutting-edge mobile iris technology developed by IrisGuard. Once setup, the platform offers targeted aid delivery that eliminates fraud in aid distribution entirely. The same platform is used in many other verticals such as pension schemes that require proof-of-life to ensure accountability of pension fund distribution and entitlement.

Healthcare organisations are looking to utilise EyePay® platform to secure patient medical record on the cloud, to reduce operational risks which will in turn reduce financial and legal liabilities while administering medication or applying treatment. Apart from substantially reducing human error, eliminating fraud, enhancing speed and quality of medical care, the obvious common benefit is the great savings of healthcare administration cost and reduced fees.

About IrisGuard

IrisGuard UK Ltd. was founded in 2001 and is a world-leader of end-to-end iris recognition platforms for large-scale deployments. Patented EyePay® Mobile Phone technology allow innovative and secure financial aid delivery that eliminates fraud and create unprecedented accountability. The EyeCloud® targeted aid delivery platform provides cost-effectively delivery of financial services to the world's unbanked who are most in need of financial inclusion.

About Zain Group

Zain Group is the leading mobile telecom innovator in eight markets across the Middle East and Africa, and Zain Cash, its award-winning mobile wallet, money transfer, electronic bill payment, and funds disbursement service in Iraq.

For more information on IrisGuard, please visit www.irisguard.com

- Images of our products are available on request

- Interview with Imad Malhas, CEO also available on request

SOURCE IrisGuard