Technology for Underserved Is Slowly Catching On Jon Swartz - USA Today
go to original July 19, 2014

Quippi is the first International gift card (we like to call it International Shopping Card) you buy in the US for your family and friends to shop in Mexico. (Quippi)

While the debate rages over tech’s record on diversity and economic inclusion, there is little argument over the intentions of venture-capital firm Accion and its clients, which include start-up Quippi.

They’ve teamed up to offer technology for the underserved, those typically either unable to afford tech or gain ready access to it. It’s a multibillion-dollar opportunity in multiple markets. “The market is ripe for disruption,” says Michael Aleles, CEO of Quippi, which offers what it says is the first international shopping card that lets immigrants send money home without being gouged by onerous wire-transfer fees. The market is pegged at $22 billion between the USA and Mexico, where Quippi is focusing its first efforts.

Aleles, a former executive at Intel Capital, the venture-capital arm of the computer chip giant, says several countries, including El Salvador, are interested in the service. “This is the way for retailers in one country to reach consumers in another country.”

Technology for the disenfranchised could be an immense market, but it has evolved slowly.

Read the rest at Freep.com

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