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"“Information and communication technologies (ICTs) have the
potential to profoundly change global trade, finance and
production. By making businesses more competitive and
economies more productive, and most of all by empowering
people with knowledge, ICTs can support faster economic
growth and thus strengthen the material basis for development….
New technologies and applications continue to emerge. Current
technologies are maturing, and old ones are finding new uses. We
must ensure that developing countries are not left further behind by
all these dramatic changes, but can join in and benefit from them in
their efforts to achieve the Millennium Development Goals”.-Kofi Annan Secretary General of the United Nations 2005
The Status Quo:
In an increasingly competitive global village, fuelled by advances in electronic commerce, international merchants and global brands the World over are continuously on the look out for means to improve their market share and bottom line. Developed world markets are increasingly oversaturated and extremely price competitive and many now look towards the Emerging Markets as an underserved and untapped resource.
However with a population of over 5 billion and a multi trillion dollar GDP the Emerging Markets, including regions such as Africa, Eastern Europe, the Middle East and Asia, have thus far been grossly overlooked in their ability to engage in the now standard practice of online electronic commerce. And all this despite the fact that theses regions are experiencing record growth in both internet and mobile phone usage; e.g. internet usage increased over 1000% in Africa and the Middle East between 2000-2008 with Latin America and Asia also showing respectable growth.
The Problem:
One major stumbling block still remains: Across the Emerging Markets, made up of divergent cash based economies with poor infrastructures and even poorer credit availability, the standard methods of online payment are in many cases totally unacceptable, are poorly dispersed with low user uptake and are prohibitively expensive for the average local community member. Ultimately making them all but worthless to international merchants as a means to attract and capture the Emergent Market consumer.
The Solution
SeniTech Global Inc. is the only company that is focusing on the transaction technology that specifically serves the Emerging Markets providing a more robust and complete solution to vendors, banks and community members across multiple languages, currencies and delivery methods.For more information on our solutions... |