Who we are
Bancore is an operating, scalable mobile payments company founded in Denmark and owner of an award-winning Payment Platform developed in-house at a cost of about Eur 10M. The platform features all functionalities needed for non-cash, electronic transactions by mobile phone, now and in future.
In emerging markets, most consumers will go straight from cash–only to mobile payments, bypassing brick and mortar banks.
Bancore already has successful operations in Nigeria and surrounding countries, an expanding roster of SME customers, and a 2019 transaction volume close to Eur 100M, estimated to double to Eur 200M in 2020.
We are the only company completing the remittance/payment transaction with a prepaid Mastercard or VISA payment card loaded with the exact amount and instantly sent to the recipient’s handset screen, where it can be used immediately, just like a plastic card.
Bancore’s prime Sustainable Development Goal (SDG) is to help remove the main obstacle to economic growth in emerging markets, which is fraud. We will do so by “financially including” the 2.5 billion unbanked/underbanked consumers around the world and offering them bank-like payment methods that will both save them money and give them access to the modern world economy.
Bancore is a payments facilitator and not a bank, so does not need a banking license, as we work closely with traditional banks, but have all the licenses and clearances to carry out and grow our business.